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.