The use of stablecoins has lowered my valuation of Bitcoin. Ark Invest founder and CEO Cathie Wood discussed Bitcoin's outlook and the development trends of stablecoins on CNBC on November 6. She stated that due to stablecoins rapidly taking over the transactional functions originally expected to be handled by Bitcoin in emerging markets, the optimistic target price for Bitcoin in 2030 has been adjusted down from $1.5 million to $1.2 million—a $300,000 reduction. However, she emphasized that this does not change Bitcoin's 'digital gold' attribute. Wood pointed out that stablecoins are scaling at an unexpected speed, with U.S. institutions already starting to build new payment rails centered around them. Meanwhile, Bitcoin, as the core of the global monetary system and the leading asset in a new category, is still in the early stages of institutional adoption. Its store-of-value function offers both advantages and similarities compared to gold, and its long-term potential remains intact. Video source: https://youtu.be/07v3YPCHTdI?si=mpa7rFGUocMtZrad