Standard Chartered analyst: Investors can view BTC as a technology stock rather than a traditional market hedging tool

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ODAILY
3 days ago
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Planet Daily News: Geoff Kendrick, an analyst at Standard Chartered Bank, stated that given the high correlation between Bitcoin's price and the Nasdaq index, investors would be better off viewing it as a tech stock rather than a tool for hedging traditional market fluctuations. Kendrick created a hypothetical "Mag 7B" index, a derivative of the Magnificent 7 index, replacing Tesla with Bitcoin. Typically, Mag7 refers to tech giants Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta, and Tesla. He concluded that traders who did this in 2017 would now have returns of 5%. (Decrypt)

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