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Cathie Wood: Reduced her bullish outlook on Bitcoin due to stablecoins potentially capturing some market share.
Gold Financial reports that Ark Invest founder Cathie Wood discussed the fate of Tesla CEO Elon Musk's $1 trillion compensation plan and the recent decline in Bitcoin prices during an interview on CNBC's "Squawk Box." During the interview, she adjusted her previous Bitcoin price outlook, citing concerns that stablecoins might capture some market share, leading her to become less bullish on Bitcoin. Prior to this, she had been one of the prominent industry advocates predicting a bullish outlook for Bitcoin.
BTC3.57%
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