Cathie Wood Cuts Bitcoin Price Target from $1.5M to $1.2M Citing Stablecoin Growth

Cathie Wood, CEO of Ark Invest, has reduced her bullish price forecast on Bitcoin from $1.5 million to $1.2 million per coin. The five-year price prediction change has sparked commentaries on X, with some people questioning its relevance considering it is a 20% reduction for a more than 1,000% increase forecast. Ark’s CEO adjusted her forecast during a live show at CNBC’s “Squawk Box” on November 6, making the case that stablecoins have overtaken part of the role she once expected Bitcoin to play, scaling ...