ARK Invest CEO Cathie Wood has trimmed her long-term Bitcoin price projection by $300,000, now citing the unexpected rise of stablecoins as an alternative store of value in emerging market economies.
Stablecoins change the landscape
Speaking on CNBC, Wood stated:
“Given what’s happening to stablecoins, which are serving emerging markets in a way that we thought Bitcoin would, I think we could take maybe $300,000 off that bullish case, just for stablecoins. Stablecoins are scaling here, I think, much faster than anyone would have expected.”
Wood previously forecast a top Bitcoin price of $1.5 million by 2030.
Despite the revised outlook, she maintains a bullish stance on Bitcoin as a global monetary system and a digital store of value, distinguishing it from stablecoins, which she described as “cash tokenized on a blockchain.”
Emerging markets drive stablecoin demand
US dollar-pegged stablecoins have gained a foothold in countries facing hyperinflation, currency controls, and sanctions.
According to Standard Chartered, stablecoins could draw over $1 trillion from legacy banks in emerging markets by 2028.
In Venezuela, where inflation has soared to 269% in 2025, millions have turned to stablecoins like Tether’s USDt for savings and transactions.
Venezuela’s adoption of stablecoins
Strict currency controls and a two-tiered exchange system in Venezuela have made stablecoins a more accessible and stable alternative to physical US dollars or bank deposits.
Reports from 2024 indicate the Venezuelan government has also used stablecoins to facilitate international oil trades and bypass US sanctions.
Bitcoin’s role remains distinct
Despite the competitive presence of stablecoins, Wood emphasized Bitcoin’s unique function as a decentralized store of value, akin to gold.
