Deep Tide TechFlow News, on March 24, reported by Decrypt, Standard Chartered Bank analyst Geoff Kendrick stated that investors should view Bitcoin as a tech stock rather than a safe-haven asset against traditional market volatility, given the high correlation between Bitcoin prices and the Nasdaq index.
Kendrick created a hypothetical "Mag 7B" index, replacing Tesla with Bitcoin. If investors had operated this way since 2017, they would now have gained an additional 5% return. With a market capitalization of $1.7 trillion, Bitcoin ranks sixth in this portfolio.
Kendrick created a hypothetical "Mag 7B" index, replacing Tesla with Bitcoin. If investors had operated this way since 2017, they would now have gained an additional 5% return. With a market capitalization of $1.7 trillion, Bitcoin ranks sixth in this portfolio.