Odaily News Geoff Kendrick, head of digital assets research at Standard Chartered Bank, said Bitcoin's popularity as an inflation hedge is growing.
He pointed out that Bitcoin is highly correlated with the Nasdaq index in the short term, and rather than viewing it as a hedge against traditional financial problems, it is better to view it as a "tech stock alternative."
Kendrick also suggested that if Bitcoin replaces Tesla in the "Big Seven" to form the "Mag 7B" index, its return rate will be higher and the volatility will be lower. (BeInCrypto)