Edgen Crypto·Nov 06 2025, 19:54
[1] Dalio Warns Fed Stimulus is Feeding Late-Stage Economic Decay (https://cointelegraph.com/news/ray-dalio-fed- ...)[2] Phemex Crypto Market Daily: Privacy Coins and Web3 Tokens Surge as Bitcoin, Ethereum Stabilize | Phemex News (https://vertexaisearch.cloud.google.com/groun ...)[3] Ray Dalio Warns Fed Policy Risks Asset Bubble, Poising Bitcoin and Gold for Gains (https://vertexaisearch.cloud.google.com/groun ...)
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Nov 06 2025, 22:27
Cathie Wood Lowers Bitcoin 2030 Outlook to $1.2M Citing Stablecoin Growth
## Executive Summary Cathie Wood, CEO of **Ark Invest**, has lowered her most aggressive long-term **Bitcoin** price outlook for 2030 by $300,000, adjusting it from $1.5 million to $1.2 million. This revision stems from the accelerated adoption and functional expansion of stablecoins, which are increasingly serving as payment and remittance instruments in emerging markets, a role **Wood** had previously envisioned for **Bitcoin**. ## The Event in Detail On Thursday, **Cathie Wood** announced a significant adjustment to **Ark Invest**'s 2030 **Bitcoin** price target during an interview on **CNBC's Squawk Box**. The previous bullish forecast of $1.5 million by 2030 has been reduced to $1.2 million. **Wood** explicitly attributed this change to the unexpected speed and scale at which stablecoins are being adopted, particularly in emerging economies. She stated: > "Given what's happening to stablecoins, which are serving emerging markets in a way that we thought bitcoin would, I think we could take maybe $300,000 off of that bullish case just for stablecoins. So watch that space. Stablecoins are scaling here much faster than anyone would have expected.” **Wood** further clarified that stablecoins are "usurping part of the role that we thought **Bitcoin** would play," indicating a re-evaluation of **Bitcoin**'s primary utility in a rapidly evolving digital asset landscape. ## Market Implications The revision of a prominent analyst's forecast, such as **Cathie Wood's**, carries potential implications for investor sentiment regarding **Bitcoin**. While **Wood** reiterated her long-term bullish stance on **Bitcoin** as "digital gold" and a store-of-value asset, the acknowledgment of stablecoins' growing transactional dominance suggests a potential shift in market perception of **Bitcoin**'s role. Stablecoins, predominantly dollar-pegged like **Tether (USDT)**, have seen their total market capitalization exceed $307 billion as of November 2025, with projections for market volumes to reach $100 trillion within five years and issuance to hit $1.9 trillion by 2030. This growth reinforces the **US dollar**'s digital presence and positions stablecoins as foundational global payment rails, potentially siphoning over $1 trillion from traditional banking systems in emerging markets by 2028. ## Expert Commentary **Wood** emphasized that despite the shift in functional expectations, **Bitcoin** continues to strengthen its position as a global store of value, akin to gold. She contrasts **Bitcoin** with stablecoins, noting that stablecoins represent tokenized cash on a blockchain, while **Bitcoin** remains a self-contained asset foundational to a new monetary system. The rapid inflation rates, such as the **Venezuelan Bolivar** surging to 269% annually in 2025, have propelled the adoption of dollar-pegged stablecoins like **USDT** as a savings vehicle in such economies. This trend highlights the practical utility of stablecoins in providing stability for everyday transactions in volatile economic environments, a function **Bitcoin's** volatility currently cannot match. ## Broader Context The ascendance of stablecoins is reshaping the broader **Web3** ecosystem and the narrative surrounding digital assets. While stablecoins enhance liquidity and facilitate cross-border transactions, their increasing adoption as a transactional currency means **Bitcoin**'s strategic role is solidifying as a strategic reserve asset, rather than its initial vision as a primary medium of exchange. This dynamic underscores an evolving understanding of digital assets, where **Bitcoin** serves as a hedge against inflation and a store of value, while stablecoins cater to daily transactional needs and support the global dominance of the **US dollar** in digital form.
Nov 06 2025, 21:49
Robinhood Considers Bitcoin Treasury Amid Surging Crypto Revenue
## Executive Summary **Robinhood Markets, Inc.** is evaluating the adoption of a Bitcoin corporate treasury, a decision under consideration by its finance leadership. This potential move follows the firm's significant 300% surge in crypto revenue during the third quarter. ## The Event in Detail **Robinhood** is exploring the addition of **Bitcoin** to its corporate treasury, a strategy that its SVP of finance and strategy and incoming CFO, **Shiv Verma**, noted could demonstrate alignment with the crypto community. Ms. Verma emphasized that while this move has positives, it also necessitates a considerable capital commitment. Shareholders currently have the option to purchase **Bitcoin** directly through the **Robinhood** platform. The company's crypto revenue reached **$268 million** in the third quarter, representing a 300% increase, contributing to overall revenues of **$1.27 billion** for the period. This marks the highest crypto trading revenue to date for **Robinhood**, with overall profits also climbing 217% to **$556 million**. ## Market Implications **Robinhood**'s consideration of a **Bitcoin** treasury aligns with an emerging trend among publicly traded corporations. According to **Elliot Chun** from **Architect Partners**, 228 publicly traded companies have announced digital asset treasury (DAT) strategies, with the majority initiated in 2025. These firms have collectively allocated **$148 billion** into crypto assets, driven by the belief that such holdings can enhance stock value, mirroring the strategy of companies like **MicroStrategy**. For instance, **The Smarter Web Company**, a London-listed tech firm, has consistently expanded its **Bitcoin** holdings as part of a long-term treasury plan. Despite market fluctuations, **Smarter Web** reported a Quarter-to-Date **Bitcoin** yield of 1.74% on its treasury, demonstrating potential for income generation. Such corporate adoption could positively influence broader market sentiment by signaling increased institutional engagement with digital assets, potentially encouraging other companies to explore similar strategies. ## Expert Commentary Experts highlight inherent risks associated with corporate holdings of volatile assets such as **Bitcoin**. Cryptocurrencies remain speculative, with values susceptible to rapid fluctuations driven by news or regulatory announcements. For example, **Bitcoin** experienced a 12% decline in value in March 2025 following new U.S. regulatory announcements. The absence of a standardized global legal framework presents legal and fiscal risks, particularly in jurisdictions with ambiguous regulations. Security concerns also persist, with over **$1.5 billion** in losses due to hacks in 2024, affecting wallets and platforms. The proliferation of new cryptocurrencies and NFTs has also led to an increase in fraudulent schemes such as Rug pulls and Ponzi schemes. ## Broader Context Corporate digital asset treasuries predominantly favor **Bitcoin**, which constitutes 82.6% of DAT company treasuries. In 2025, DAT companies acquired approximately **$30.0 billion** in **BTC**, representing 70.3% of their total digital asset allocations. **Ethereum (ETH)** purchases totaled at least **$7.9 billion**. Regulatory landscapes are also evolving, with the U.S. Congress making progress in 2025 toward federal oversight of stablecoins and digital asset markets. The **GENIUS Act** was signed into law, and other significant bills, including the **CLARITY Act** and the **Anti-CBDC Surveillance State Act**, have advanced through the House. **Robinhood** has also expanded its crypto footprint, completing the acquisition of **Bitstamp** in June 2025, a regulated crypto exchange operating in over 50 countries, further broadening **Robinhood**'s international reach and access to digital assets.
Nov 06 2025, 19:27
Ray Dalio Warns Fed Policy Risks Asset Bubble, Poising Bitcoin and Gold for Gains
## The Event in Detail Billionaire investor Ray Dalio has issued a cautionary statement regarding the Federal Reserve's recent monetary policy adjustments, characterizing the halt of quantitative tightening as the commencement of a "dangerous cycle of stimulating into a bubble." Dalio, the founder of Bridgewater Associates, argues that this shift represents a classic dynamic of a late-stage debt cycle, a period marked by easing monetary policy despite economic growth, low unemployment, and rising asset markets. He contends that this approach, rather than addressing economic weakness, could inflate asset prices significantly before an eventual market correction. Dalio suggests that the Fed's current stance is particularly concerning given the prevailing economic conditions. Historically, monetary easing is implemented during economic downturns; however, the present environment features robust employment figures and appreciating asset valuations. This combination, according to Dalio, contributes to an inflationary environment and currency debasement, making it a critical period for investors to monitor fiscal and monetary policy decisions. ## Market Implications The implications of the Fed's perceived "stimulating into a bubble" policy extend to hard assets, with **Bitcoin** (BTC) and **gold** identified as primary beneficiaries. Dalio posits that these assets could experience substantial rallies, acting as hedges against the potential inflation and economic instability arising from late-stage debt cycle dynamics. Gold, specifically, has already demonstrated resilience, trading comfortably above **$4,000/oz**. The **World Gold Council’s Q3 2025** report noted a 3% year-over-year increase in demand, totaling **1,313 tons**, with 13 new all-time highs recorded and central bank purchases up 10% year-over-year. This demand is further bolstered by resumed purchases from nations like Poland and Brazil. For the cryptocurrency market, **Bitcoin** (BTC) is viewed as a significant hedge against macroeconomic and geopolitical risks, including potential shifts in the global monetary order. While Dalio suggests an interim "melt-up" for Bitcoin alongside gold, he also cautions about potential volatile reversals should liquidity or policy expectations change. The broader crypto market recently experienced volatility, with investment products witnessing **$360 million** in outflows, driven by investor uncertainty following Federal Reserve Chair Jerome Powell's cautious comments on future rate cuts. **Bitcoin ETFs** specifically saw **$946 million** in redemptions, indicating a cautious investor sentiment for certain crypto instruments. Conversely, **Solana** (SOL) attracted significant inflows, reaching **$421 million**, largely due to demand for newly launched US exchange-traded funds, pushing its year-to-date totals to **$3.3 billion**. **Ethereum** (ETH) also recorded **$57.6 million** in inflows, albeit with mixed daily activity. ## Broader Context The demand for **Bitcoin** (BTC) as a store of value is further amplified by growing U.S. macroeconomic imbalances, notably persistent fiscal deficits. The U.S. House of Representatives passing the “One Big Beautiful Bill Act” (OBBBA) on May 22, 2025, is estimated to add **$3 trillion** to the federal deficit over ten years, potentially increasing to **$5 trillion** if certain expiring provisions are extended. This fiscal trajectory contributed to Moody's downgrading the U.S. sovereign credit rating to double-A from triple-A on May 16. Such fiscal risks are increasingly driving demand for **Bitcoin**, including its adoption by "Bitcoin treasury" corporations—public companies incorporating Bitcoin onto their balance sheets as a strategic asset.