Rethinking Bitcoin: Why Analysts Suggest Treating It Like a Tech Stock Amid Market Trends

On March 24th, COINOTAG reported insights from Decrypt highlighting the perspective of Standard Chartered Bank analyst Geoff Kendrick. He emphasized the significant correlation between Bitcoin’s price movements and the Nasdaq index, proposing that investors reevaluate Bitcoin’s role, viewing it more as a technology stock rather than a traditional safe-haven asset amid market volatility. Kendrick introduced an innovative concept, the hypothetical “Mag 7B” index, which integrates Bitcoin while replacing Tesla. According to his analysis, adopting this strategy since 2017 could have yielded an additional 5% return for investors. This revelation underscores the evolving nature of cryptocurrency in investment portfolios, prompting a reassessment of risk and asset classification within a rapidly changing financial landscape.