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Standard Chartered analyst: Investors should view BTC as a tech stock rather than a hedging tool.
BlockBeats news, on March 24, reported by Decrypt, Standard Chartered analyst Geoff Kendrick stated that given the high correlation between Bitcoin prices and the Nasdaq index, investors should consider it as a tech stock rather than a safe-haven tool against fluctuations in traditional markets. Kendrick created a hypothetical "Mag 7B" index, replacing Tesla with Bitcoin. If investors had operated this way since 2017, they would now have gained an additional 5% return.