Ark Invest’s Cathie Wood has scaled back her most optimistic outlook for bitcoin, conceding that the rapid growth of stablecoins is taking over some of the functions she once expected bitcoin to fulfill.

Wood said that her firm has now lowered its 2030 bull case from $1.5 million to $1.2 million. Ark Invest’s latest projections now place Bitcoin’s price at $1.2 million in its bull case, $600,000 in its base case, and $500,000 in its bear case by 2030.

Ark Invest CEO and CIO Cathie Wood joins 'Squawk Box' to discuss the fate of CEO Elon Musk's $1 trillion pay package, what happens if the pay package is not approved, Tesla's valuations, company growth outlook,

Cathie Wood has revised Ark Invest’s most optimistic Bitcoin outlook, cutting it by $300,000 to $1.2 million by 2030.

ARK Invest CEO Cathie Wood lowered her 2030 Bitcoin forecast from $1.5 million to $1.2 million. ARK Invest CEO Cathie Wood has adjusted her long-term Bitcoin forecast, citing the rise of stablecoins as a force in the crypto space.

Ark Invest made significant trades, focusing on Pinterest, Robinhood, and Reddit amid earnings reports. They have confidence in Pinterest's potential despite recent setbacks.

Cathie Wood is among the most bullish investors when it comes to the crypto sector. Well-known for her bullish $1.5 million Bitcoin (BTC) price prediction, her investment firm ARK Invest regularly drops millions of dollars on crypto stocks.

Ark Invest CEO Cathie Wood on Thursday told CNBC's Squawk Box that she has reduced her most aggressive Bitcoin price outlook for 2030, saying

Ark Invest has adjusted its long-term bullish outlook on Bitcoin (CRYPTO: BTC) from $1.5 million by 2030 down to $1.2 million, citing the rapid rise of stablecoins as a factor for its downward revision.

Intellia Therapeutics also has fans on Wall Street. The company's current average price target of $32.3 (according to Yahoo! Finance) implies a significant 131% upside from its current levels. And that's despite a recent setback that sent Intellia Therapeutics' shares down significantly.