Overview
- Cathie Wood told CNBC that Ark’s top-end 2030 projection for Bitcoin is being reduced by about $300,000 from $1.5 million to roughly $1.2 million.
- She said stablecoins are taking on the transactional role in developing economies that Ark once expected Bitcoin to fill, pushing Bitcoin’s narrative toward store of value.
- Bitcoin slipped below $100,000 earlier this week during a broader sell-off and was recently trading near $103,000, according to the coverage.
- JPMorgan analysts reported heavy futures liquidations since October—including a record event on Oct. 10 and a Nov. 3 episode tied to a $120 million Balancer exploit—and said deleveraging now looks largely complete.
- The stablecoin market cap has climbed to a record above $306 billion, with U.S. institutions testing stablecoin payment systems, even as Wood maintains a long-term bullish view on Bitcoin as “digital gold.”