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Opening the Bitcoin news trend, ARK Invest CEO Cathie Wood said in a post that stablecoins are taking over Bitcoin’s role in emerging markets.
She plans to defend her price target for Bitcoin as market activity grows at the coming Cantor Fitzgerald’s digital asset conference. This update adds to recent discussions in Bitcoin news circles.
Bitcoin BTC News: Cathie Wood Defends BTC Value
Cathie Wood, the head of ARK Invest, said stablecoins are now doing one of the jobs Bitcoin was expected to handle in emerging markets.
She commented on her X account ahead of her talk at Cantor Fitzgerald’s crypto conference this week, where she plans to explain ARK’s Bitcoin price target.
Wood said that while stablecoins are used more often for transactions, Bitcoin still stands as a store of value like gold.
She mentioned that this role should have grown stronger given the high inflation and weak currencies seen in many parts of the world.
Her comments come as Bitcoin trades above $106,000, supported by renewed buying after the U.S. Senate ended the 40-day government shutdown.
Notably, the vote lifted market confidence and boosted prices for both Bitcoin and gold.
Data shared in recent Bitcoin news reports show that Bitcoin rose more than 4% in 24 hours, while gold gained about 2%.
The rise followed the Senate’s 60–40 vote to approve the funding deal, easing investor worries about political delays.
Additionally, the improved outlook pushed the total cryptocurrency market value to $3.57 trillion.
Market analysts said the link between the Senate decision and the price jump shows how strongly politics can move financial markets.
Bitcoin had fallen below $100,000 during the shutdown but has now recovered most of those losses.
Winklevoss Criticises Media for Misjudging Bitcoin BTC
Cameron Winklevoss, co-founder of the Gemini exchange, took aim at traditional media for its long-running criticism of Bitcoin.
In a post on X, he recalled how the Financial Times in 2013 said Bitcoin was like tulip mania and the dotcom bubble when it was worth only $138.
He pointed out that 12 years later, Bitcoin now trades at $100,000, saying this proves that early media reports were wrong.
Winklevoss argued that most business outlets failed to see Bitcoin’s long-term strength and potential as a financial asset.
Several Bitcoin news platforms noted that his comment adds to a growing debate between traditional finance and the crypto community.
Many investors now see Bitcoin as a key digital asset rather than a passing trend.
Peter Schiff Sees Rising Demand for Gold and Bitcoin
Economist Peter Schiff, known for his support of gold, said both Bitcoin and gold rose after the U.S. government reached a funding deal.
He said the return to spending and growing deficits could increase inflation, pushing investors toward alternative assets.
According to Bitcoin news, the coin’s open interest grew by almost $700 million in one day, showing that traders expect higher prices.
The cryptocurrency now trades close to $106,400, with analysts watching resistance near the $108,000 level.
Gold also moved higher, reaching $4,085. Banks such as Goldman Sachs and Bank of America predict the metal could hit between $4,200 and $5,000 by 2026.
Forecasts for Bitcoin are even more bullish, with some analysts expecting a move toward $180,000 or $200,000 next year if the trend holds.
Both gold and Bitcoin are seen as safe assets during periods of inflation and currency decline. Many investors use them to protect value when the U.S. dollar weakens.
These developments have become a key topic in Bitcoin news coverage this week as traders watch how the market reacts to the end of the political stalemate.
