PANews reported on April 4th that according to The Block, Standard Chartered Bank created a hypothetical "Mag7B" index last week, converting Tesla into Bitcoin, now referring to Bitcoin as a "strongman" because it performed better than most tech stocks during recent market sell-offs. Jeffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered Bank, stated that while traditional financial markets generally experienced sell-offs driven by tariffs from US President Donald Trump, Bitcoin demonstrated strength and can now be viewed as a "US isolation" hedging tool.

"Bitcoin is proving itself to be the best technology (with upward potential when stocks rise) and a hedging tool in various scenarios. Today, after the employment data is published, Bitcoin is likely to break through the critical $85,000 level. This will open the path to returning to the pre-tariff level of $88,500 from Wednesday (possibly this weekend)."