Overview
- Cathie Wood told CNBC that ARK is cutting its top 2030 Bitcoin target by $300,000 to $1.2 million as stablecoins take on transactional use cases ARK once expected for BTC.
- The stablecoin market has expanded past $300 billion in 2025, with growing use for payments and savings in developing economies and rising institutional interest in issuance and rails.
- Despite the revision, Wood reaffirmed a long‑term thesis of Bitcoin as “digital gold,” highlighting its appeal as a global store of value.
- Bitcoin recently fell below $100,000 after an October all‑time high near $126,000, with heavy futures liquidations and a November 3 Balancer exploit contributing to volatility.
- JPMorgan says futures deleveraging looks largely complete and sketches a scenario near $170,000 over the next 6–12 months, while Galaxy cut its year‑end view to $120,000 from $185,000.