[Ark Invest Maintains Bullish Five-Year Outlook on Bitcoin, Stablecoins Transform Emerging Market Narrative] According to a report by Jinse Finance on October 13, Lorenzo Valente, Director of Digital Asset Research at Ark Invest, stated in a video interview with Bitcoin Magazine that despite Bitcoin's lackluster performance or even decline this year, Ark Invest has not changed its long-term outlook. The firm continues to view Bitcoin with a five-year horizon and believes its development is still in its early stages. He also introduced Ark's Big Ideas report and discussed Bitcoin's role as digital gold and a permissionless currency. Valente pointed out that the rise of stablecoins has altered Ark's perspective on the narrative of Bitcoin in emerging markets. He also spoke about the emergence of tokenized stocks and real-world assets, highlighting the functionalities that tokenized stocks can achieve but traditional brokerage accounts cannot. Additionally, he mentioned the impact of rising interest rates, inflation, and AI on Bitcoin's macro outlook. He explored which tokenized business models might ultimately prevail and the potential for tokenization to export U.S. assets to offshore markets. Regarding the market outlook, Valente shared Ark's projections for Bitcoin over the next 12 to 18 months, discussed the four-year cycle, and highlighted key areas to watch moving forward. Ark's Big Ideas report provided a 2030 price target for Bitcoin, and he also addressed the reasons why institutional funds remain on the sidelines.