Cathie Wood Lowers Bitcoin Price Forecast Amid Stablecoin Rise
Cathie Wood, CEO of Ark Invest, has recently adjusted her bullish forecast for Bitcoin, decreasing the predicted price by $300,000 to $1.2 million by 2030. This revision stems from the rising adoption of stablecoins in emerging markets, which she believes has absorbed some of Bitcoin's growth potential.
Despite this adjustment, Wood maintains her optimism regarding Bitcoin’s fundamentals and its ability to thrive alongside stablecoins in a developing digital economy. Additionally, she has made significant investments in crypto-related stocks, including Bullish Holdings and Robinhood Markets, reflecting her confidence in the blockchain sector.
Wood also emphasized the transformative potential of AI-driven payments at a recent Federal Reserve event, suggesting that innovations in technology could spur substantial economic growth. Overall, while her predictions may have shifted, Wood's commitment to investing in the crypto landscape remains steadfast.
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