Group 1 - Cathie Wood has lowered her long-term price prediction for Bitcoin by approximately $300,000, now expecting a peak price of $1.2 million by 2030, due to the rapid rise of stablecoins in emerging markets [1] - Stablecoins are increasingly taking on the role that Bitcoin was expected to fulfill in emerging markets, acting as a store of value [1] - Despite the lowered price expectations, Wood remains optimistic about Bitcoin's overall prospects, viewing it as a global monetary system akin to gold, while distinguishing it from stablecoins [1] Group 2 - The appeal of stablecoins is particularly strong in economies suffering from hyperinflation, sanctions, or currency controls, with Standard Chartered predicting that stablecoins pegged to the dollar could siphon over $1 trillion from traditional banking systems in emerging markets by 2028 [2] - In countries like Venezuela and Argentina, residents are increasingly using stablecoins to preserve purchasing power, as strict currency controls make them a more reliable option than holding physical dollars [2] - Data from DefiLlama indicates that the total market capitalization of stablecoins is expected to exceed $300 billion by 2025, reflecting their rapid adoption in emerging markets [2] Group 3 - Wood's adjustment in perspective indicates a broader market reassessment of the roles of different digital assets within the future global financial system, with Bitcoin's payment and short-term storage functions facing strong competition from stablecoins [3] - Other market players, such as Galaxy, are also adjusting their Bitcoin price targets, with Galaxy lowering its 2025 target to $120,000, citing changing market dynamics [3]