ARK Invest founder Cathie Wood has revised her long-term Bitcoin price target downward by $300,000, citing the increasing adoption of stablecoins as a key factor. Specifically, she noted that stablecoins — digital assets pegged to traditional fiat currencies — are gaining ground faster than anticipated, threatening to displace Bitcoin as a primary store of value in emerging markets.
Previously projecting a Bitcoin price of $1.5 million by 2030, Wood now believes that stablecoins may erode some of Bitcoin ’s potential. She emphasized that stablecoins are fulfilling a similar role in emerging economies, serving as a reliable medium of savings and transactions where the local currencies are unstable or subject to controls. This rapid growth of stablecoin adoption in such regions has led her to temporarily scale back her bullish outlook on Bitcoin ’s valuation.
Despite this adjustment, Wood remains optimistic about Bitcoin ’s overall long-term prospects. She views Bitcoin as a global monetary system that functions effectively as a store of value comparable to gold . Unlike stablecoins, which are essentially digital representations of fiat currencies on blockchains, Bitcoin ’s decentralized nature provides it with distinct advantages in terms of security and sovereignty.
The rise of stablecoins in emerging markets is supported by recent forecasts from financial institutions. Standard Chartered predicts that by 2028, stablecoins could divert over $1 trillion from traditional banking systems in these regions. Countries facing hyperinflation, sanctions, or currency restrictions — such as Venezuela and Argentina — are increasingly turning to US dollar-pegged stablecoins like Tether’s USDT to preserve their savings and facilitate international transactions.
Venezuela exemplifies this trend, with hyperinflation reaching approximately 269% annually in 2025, prompting millions to adopt stablecoins as refuge from the local currency’s devaluation. Additionally, reports indicate Venezuela’s government has utilized stablecoins to sidestep US sanctions and support its oil exports, further reinforcing their growing significance in the financial landscape of emerging economies.
