Cathie Wood lowered her Bitcoin target to $300,000.

ARK Invest CEO Cathie Wood made an important update regarding the future of Bitcoin with her recent statements. The rapid rise of the advanced stablecoin market has led to a reduction in Bitcoin's 2030 target to 300 thousand dollars. Wood emphasized that while Bitcoin's long-term potential remains intact, stablecoins have grown faster than expected, occupying spaces in the crypto ecosystem.

Speaking to CNBC, Wood noted that especially in developing countries, the use of stablecoins like USDT and USDC as digital dollars has caused them to take over some functions that Bitcoin was expected to fulfill. Wood stated, “Stablecoins are taking over some of the functions we thought Bitcoin would assume. Therefore, we may need to remove about 300 thousand dollars from our bull scenario,” she said.

In previous reports, ARK Invest had set a target of 2.4 million dollars for Bitcoin in its 2030 bull scenario. However, with this revision, it implied that the target has decreased to around 2.1 million dollars. It is known that the previously published base scenario was 1.2 million dollars, while the bear scenario was 500 thousand dollars.

The rise of stablecoins is also transforming Bitcoin’s traditional role. Wood noted that Bitcoin still remains “digital gold” and should continue to be the foundation of the new global financial system. However, with the supply of stablecoins reaching 260 billion dollars, Bitcoin’s role as a “cash-like payment medium” has been significantly diminished.

Cathie Wood’s statements come at a time when other major investment firms are also revising their forecasts. Galaxy Digital set its year-end Bitcoin target at 120 thousand dollars due to large investor sales and a shift toward alternative investments. Meanwhile, JPMorgan analysts predict that Bitcoin’s price could rise to 170 thousand dollars within the next 6 to 12 months as the leverage effect in futures markets decreases.

As this article was being prepared, Bitcoin was trading at approximately 102 thousand 300 dollars, showing a 19% drop from its peak of 126 thousand dollars at the beginning of October.