Cathie Wood cuts Bitcoin’s 2030 price target from $1.5 million to $1.2 million–$1.3 million

Cathie Wood, founder of Ark Invest, has lowered Bitcoin (BTC)’s long-term 2030 price target from $1.5 million to $1.2 million–$1.3 million. She added, however, that her long-term conviction has strengthened even amid the recent correction.

According to Benzinga Crypto, a digital-asset (cryptocurrency) news outlet, Wood reiterated in an interview with Morningstar Europe that Bitcoin is a “global digital asset not subject to government oversight.”

She explained that the spread of dollar-pegged stablecoins has replaced some of the roles Bitcoin was expected to play in emerging markets. “People who don’t have much capacity to save may prefer stablecoins pegged to the dollar or dollar-based assets,” she said.

Wood noted that these shifts were a factor in cutting $200,000–$300,000 from Ark’s previous bull-case scenario. As a result, Bitcoin’s 2030 target was revised from $1.5 million to around $1.2 million–$1.3 million.

Even so, she said, “Our conviction actually grew while Bitcoin was falling.” In her view, broader adoption by traditional financial institutions and inflows of institutional capital are strengthening the long-term upside catalysts.

Wood also assessed that gold’s price action could serve as a leading indicator for Bitcoin, citing that in two past major bull markets, Bitcoin’s full-fledged rally followed gains in gold.

Meanwhile, market observers point to a range of factors shaping short-term price action, including the four-year cycle theory, quantum-computing risks and shifts in capital driven by the expansion of artificial intelligence (AI) investment. Wood, however, continues to emphasize the likelihood that Bitcoin will establish itself as a global store of value over the long term.