Standard Chartered Bank: If BTC is included in the tech stock portfolio, it will attract more institutional investors to buy

ChainCatcher news, according to The Block, Standard Chartered has launched a hypothetical "Mag 7B" index, replacing Bitcoin (BTC) with Tesla in the "Magnificent 7" tech stock portfolio, and found that this new portfolio has higher returns and lower volatility.

Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered, noted in his report that Bitcoin's correlation with Nasdaq is "almost always" higher than its correlation with gold in the short term, which provides a basis for viewing Bitcoin as part of the tech stock category. He stated, "If Bitcoin is included in the tech stock portfolio, it will attract more institutional investors to buy, as Bitcoin can play multiple roles in a portfolio."