Ark Invest CEO Cathie Wood has revised the firm's long-term bitcoin price target, reducing it from $1.5 million to $1.2 million by 2030. This adjustment comes as stablecoins gain rapid adoption, particularly in emerging markets, where they are increasingly taking on roles traditionally associated with bitcoin. Despite the lowered target, Wood remains optimistic about bitcoin's future as a store of value and a key asset in a new monetary system. She noted that stablecoins are scaling faster than anticipated, becoming a primary medium of exchange in global finance. Wood also pointed out that institutional adoption of cryptocurrencies is still in its early stages, suggesting significant growth potential ahead.