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CEO of ARK Invest, Cathie Wood, revealed that stablecoins have now surpassed Bitcoin in daily payment transactions. According to Wood, the role as a transaction tool, which was initially predicted to be dominated by Bitcoin, has actually been taken over by stablecoins. Data shows that the market capitalization of stablecoins has exceeded $320 billion, with usage in countries like Brazil and Venezuela dominating up to 90% of daily transactions, far surpassing Bitcoin.
Although the payment function has shifted, Wood believes this actually clarifies Bitcoin's position as a reserve asset. With stablecoins dominating the transaction sector, Bitcoin's position as a store of value for institutions is becoming stronger. Wood noted that in the ETF era, major investors show high loyalty by continuing to accumulate assets even when the market is volatile or experiencing price corrections.
ARK Invest remains optimistic with a target Bitcoin price of $710,000 by 2030. Wood argues that the division of functions—where stablecoins handle cash flow and Bitcoin becomes a long-term store of value—is a positive evolution for institutional adoption.