Standard Chartered analyst: Investors should view BTC as a tech stock, not a hedge against traditional market volatility
Deep Tide TechFlow News, 24 March, Decrypt reported that Standard Chartered analyst Geoff Kendrick said that given the high correlation between the price of Bitcoin and 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, which would have given investors an additional 5 per cent now if they had done so from 2017.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
MegaETH: Pre-collected funds will be refunded, and refunds will be processed through a new contract
Data: An ancient whale suspected of selling another 1,300 ETH, worth $3.94 million
A whale borrowed 5.5 million USDT from Aave to increase their position by 60 WBTC.
Trending news
MoreCrypto prices
More
