Famous Bitcoin bull "Cathie Wood" lowers target price due to the "replacement" by stablecoins

Cathie Wood has lowered her 2030 bitcoin bull market target price by about $300,000, after previously predicting the price could reach $1.5 million.

Written by: Zhang Yaqi

Source: Wallstreetcn

ARK Invest founder Cathie Wood has revised down her long-term price forecast for bitcoin, stating that stablecoins are playing the role of a store of value in emerging markets at a much faster pace than expected, eroding the market share she had originally anticipated for bitcoin.

According to reports, the renowned tech stock investor and bitcoin supporter said she would "subtract about $300,000" from her 2030 bitcoin bull market target price. Wood had previously predicted that bitcoin’s peak price could reach $1.5 million by 2030.

"Stablecoins are usurping part of the role we thought bitcoin would play," Wood said in an interview. "Given what’s happening with stablecoins, they are developing in the way we had envisioned bitcoin would serve emerging markets." She added:

"The speed at which stablecoins are expanding here, I think, is much faster than anyone expected."

Despite lowering her price expectations, Wood said she remains optimistic about bitcoin’s overall outlook. She defines bitcoin as a "global monetary system," functioning similarly to gold as a store of value asset, but unlike stablecoins. In her view, stablecoins are simply "tokenized cash on the blockchain."

The Rise of Stablecoins in Emerging Markets

The appeal of stablecoins is particularly pronounced in economies suffering from hyperinflation, sanctions, or currency controls. International bank Standard Chartered predicts that by 2028, dollar-pegged stablecoins could siphon off more than $1 trillion from the traditional banking system in emerging markets.

In places like Venezuela and Argentina, residents are forced to use alternative fiat currencies such as the US dollar to save and protect their purchasing power. Reports indicate that Venezuela’s strict currency controls and dual exchange rate system have made stablecoins a more reliable option than holding physical dollars or depositing dollars in banks.

Multiple data sources show that the adoption of stablecoins in emerging markets is rising rapidly. According to DefiLlama, the global total market capitalization of stablecoins surpassed $300 billion in 2025 and continues to grow.

Data from Chainalysis also shows that from 2022 to 2024, stablecoins dominated the total value of cryptocurrencies received in Latin America. This trend is directly related to the region’s challenging macroeconomic environment. According to data compiled by the International Monetary Fund (IMF), Venezuela’s annual inflation rate for the bolivar soared to 269% in 2025, prompting millions of residents to adopt dollar-pegged stablecoins (such as Tether’s USDT) as their savings tool.

Impact on Investors: Reassessing Bitcoin’s Role

Cathie Wood’s adjustment in perspective reflects a market-wide reassessment of the specific roles different digital assets will play in the future global financial system. Although she still maintains that bitcoin is the "digital gold" and a long-term store of value, its payment and short-term store of value functions in emerging markets are facing strong competition from stablecoins.

This shift in market dynamics is not unique. For example, Galaxy has also lowered its bitcoin price target for 2025 to $120,000, citing changing market dynamics.