bullish

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ARK Invest’s Cathie Wood cut her long-term Bitcoin price projection by $300,000, warning that stablecoins are eroding Bitcoin’s role as a store of value in emerging markets.
“Stablecoins are usurping part of the role that we thought Bitcoin would play,” Wood, who previously forecast a <a href="https://cointelegraph.com/news/bitcoin-odds-1-5-m-increase-institutionalization-cathie-wood" rel="noopener noreferrer nofollow">top BTC price of $1.5 million</a> by 2030, <a href="https://www.youtube.com/watch?v=07v3YPCHTdI" rel="noopener noreferrer nofollow" target="_blank">told</a> CNBC on Thursday.
<blockquote>
 “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.
</blockquote>
Stablecoins are scaling here, I think, much faster than anyone would have expected,” she said.
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 <img alt="Venezuela, Bitcoin Price, Hyperinflation, Latin America, Inflation, Stablecoin" src="https://s3.cointelegraph.com/uploads/2025-11/019a5ab7-cb5b-7ed0-9678-a86feb7e77a0" title="">
 <figcaption style="text-align: center;">
 The total stablecoin market cap crossed the $300 billion milestone in 2025 and continues to grow. Source: <a href="https://defillama.com/stablecoins" rel="noopener noreferrer nofollow" target="_blank">DefiLlama</a>
 </figcaption>
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Despite the lower price forecast, Wood said she remains bullish on Bitcoin (<a href="/bitcoin-price" rel="noopener noreferrer">BTC</a>) overall, and called it a “global monetary system” that serves as a store-of-value asset similar to gold but distinct from stablecoins, which are just <a href="https://cointelegraph.com/learn/articles/stablecoins-101-what-are-crypto-stablecoins-and-how-do-they-work" rel="noopener noreferrer nofollow">cash tokenized on a blockchain</a>.&nbsp;
Related: <a href="https://cointelegraph.com/news/galaxy-2025-bitcoin-target-120k-shifting-market-dynamics" rel="noopener noreferrer nofollow">Galaxy trims 2025 Bitcoin price target to $120K amid shifting market dynamics</a>
<h2 id="emerging-market-economies-turn-to-stablecoins">Emerging market economies turn to stablecoins</h2>
US dollar-pegged <a href="https://cointelegraph.com/news/standard-chartered-stablecoin-outflows-2028" rel="noopener noreferrer nofollow">stablecoins could siphon over $1 trillion</a> from the legacy banking system in emerging markets by 2028, according to international bank Standard Chartered.
This is particularly true for jurisdictions that suffer from hyperinflation, sanctions or currency controls, such as Venezuela and Argentina, forcing residents to save in alternative fiat currencies such as the US dollar, to protect their purchasing power.
<figure>
 <img alt="Venezuela, Bitcoin Price, Hyperinflation, Latin America, Inflation, Stablecoin" src="https://s3.cointelegraph.com/uploads/2025-11/019a5ab9-2836-70aa-af9a-01e09cdd475c" title="">
 <figcaption style="text-align: center;">
 Stablecoins dominated the crypto value received in Latin America from 2022 to 2024. Source: <a href="https://www.chainalysis.com/blog/2024-latin-america-crypto-adoption/" rel="noopener noreferrer nofollow" target="_blank">Chainalysis</a>
 </figcaption>
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The annual inflation rate of the Venezuelan Bolivar has surged to 269% in 2025, <a href="https://www.imf.org/external/datamapper/PCPIPCH@WEO/WEOWORLD/VEN" rel="noopener noreferrer nofollow" target="_blank">according</a> to data compiled by the International Monetary Fund, pushing millions of residents to <a href="https://cointelegraph.com/news/how-binance-dollars-became-venezuela-s-real-currency" rel="noopener noreferrer nofollow">adopt dollar-pegged stablecoins</a> like Tether’s USDt (<a href="https://cointelegraph.com/tether-price-index" rel="noopener noreferrer nofollow">USDT</a>) as their savings vehicle.
Strict currency controls and a two-tiered currency exchange system in Venezuela have popularized stablecoins as a reliable alternative to physical dollars or US dollar deposits in a bank.
In 2024, reports emerged that Venezuela’s government was <a href="https://cointelegraph.com/news/tether-freeze-usdt-venezuela-oil-sanctions" rel="noopener noreferrer nofollow">using stablecoins to bypass US sanctions</a> and facilitate international oil trading.
Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-stablecoins-showdown-looms-genius-act-nears/" rel="noopener noreferrer nofollow">Bitcoin vs stablecoins showdown looms as GENIUS Act nears</a>

Cathie Wood drops BTC forecast by $300K, says stablecoins eroding market share

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