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TechFlow news, on March 24, according to Decrypt, Standard Chartered analyst Geoff Kendrick said that given Bitcoin's high correlation with the Nasdaq index, investors should view it as a tech stock rather than a hedge against traditional market volatility.
Kendrick created a hypothetical "Mag 7B" index, replacing Tesla with Bitcoin. If investors had adopted this strategy since 2017, they would now have gained an additional 5% in returns.
According to Decrypt, Standard Chartered analyst Geoff Kendrick said that given Bitcoin's high correlation with the Nasdaq index, investors should view it as a technology stock rather than a hedge against traditional market volatility. Kendrick created a hypothetical "Mag 7B" index, replacing Tesla with Bitcoin. If investors had adopted this strategy starting in 2017, they would now have gained an additional 5% return.
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