Cathie Wood "Bitcoin (BTC) 2030 target lowered to $1.2 million"

JH Kim

Summary

Cathie Wood, CEO of ARK Invest, said she lowered the 2030 Bitcoin (BTC) target from $1.5 million to $1.2 million.
Wood said she adjusted Bitcoin's long-term outlook due to stablecoins replacing payment and remittance demand.
Bitcoin's decentralized network and limited supply provide economic momentum, and the $1.2 million outlook reflects its long-term growth potential.

Cathie Wood, CEO of ARK Invest, lowered her 2030 Bitcoin (BTC) target from $1.5 million to $1.2 million.

On the 6th (local time), according to CryptoBriefing, a crypto asset (cryptocurrency) specialized media, Wood said in a CNBC interview, "The rapid increase in the use of stablecoins in emerging markets is replacing some of Bitcoin's payment and remittance demand," and adjusted her long-term outlook.

She explained, "Bitcoin is still strengthening its role as a global store of value, but in the payment area stablecoins are becoming a more practical means."

However, Wood emphasized, "Bitcoin's decentralized network and limited supply still provide strong economic momentum," and "the $1.2 million outlook also reflects the long-term growth potential as a digital asset that could replace the existing financial system."