Overview
- Cathie Wood said on Nov. 6 in a CNBC interview that she has slashed her long‑term Bitcoin forecast as stablecoins gain traction.
- In April, ARK outlined 2030 scenarios for Bitcoin at $300,000 in a bear case, $710,000 in a base case, and $1.5 million in a bull case.
- Wood argued that stablecoins are capturing value she had previously attributed to Bitcoin by better fitting everyday transaction needs.
- At the time of the report, Bitcoin traded near $102,000 with a roughly $2 trillion market cap, more than half of the $3.4 trillion crypto market.
- Stablecoins target price stability through dollar pegs and reserves and are widely transferable on networks like Ethereum and Solana, enabling fast cross‑border movement compared with traditional bank transfers.