Ark Invest CEO Cathie Wood, long known for her bullish stance on Bitcoin (CRYPTO: BTC), has adjusted her long-term outlook while her firm also reduced exposure to select crypto-related equities.

Crypto-Linked Positions Reduced

According to Ark Invest tracking data shared on X on Apr. 17, the firm's ARKW fund sold approximately 11,465 shares of Circle Internet Group (NYSE:CRCL), valued at about $1.21 million, and 31,417 shares of Bullish (NYSE:BLSH), worth roughly $1.36 million.

The fund used the proceeds to increase its position in Netflix following the company's latest earnings report.

Despite the recent trades, both Circle and Bullish remain relatively small positions in ARKW, each accounting for about 0.7% of total holdings.

Within the broader Ark ecosystem, Circle represents about 4.5% of ARKK holdings, while Robinhood and Coinbase make up 4.8% and 4.4%, respectively.

Over the past month, Circle shares have fallen roughly 20% even as Bitcoin rose about 6.5%. Bullish, meanwhile, gained about 11.2% in the same period.

Bitcoin Outlook Adjusted Lower

Cathie Wood has repeatedly described Bitcoin as a core long-term holding due to its decentralized structure and role in the evolving financial system. However, she has recently tempered her long-term price expectations.

In early March, Wood said Ark Invest had reduced its 2030 Bitcoin bull-case estimate, previously cited as high as $1.5 million by 2035, by several hundred thousand dollars.

She did not provide a new precise upper target but indicated a more conservative range in her updated outlook.

She attributed the revision in part to increased macro uncertainty and volatility in digital asset markets, including geopolitical tensions that contributed to Bitcoin briefly falling below $64,000.

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