Cathie Wood Lowers Her 2030 Bitcoin Target From $1.5 Million, But Her Belief Remains Steadfast:'Our Conviction Has Gone Up...'

Ark Invest founder Cathie Wood said on Thursday that the firm’s conviction in Bitcoin’s (CRYPTO: BTC) potential has strengthened despite the ongoing drawdown, but lowered the 2030 target from $1.5 million.Stablecoin Adoption Impacting Wood’s Bull CaseDuring an interview with Morningstar Europe, Wood reiterated Bitcoin’s position as a global, digital asset with “no government oversight.”She acknowledged that the dollar-pegged stablecoins “usurped” one of the roles that Ark thought Bitcoin would play in emerging markets.“People who are living hand to mouth, meaning they don’t have a lot of savings. They would much prefer the dollar and stablecoins, backed pretty much by ...Full story available on Benzinga.com