Standard Chartered executives: The trend of Bitcoin as an inflation hedging tool is strengthening.

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PANews, April 2 news, according to BeInCrypto, Standard Chartered’s Head of Digital Asset Research, Geoff Kendrick, stated in an interview that the trend of Bitcoin as an inflation hedging tool is strengthening. Kendrick pointed out that Bitcoin is highly correlated with the Nasdaq index in the short term. He claims that Bitcoin may not just be an inflation hedging tool, but rather more like an alternative tech stock: “Instead of viewing Bitcoin as a hedging tool against traditional financial (TradFi) issues, it would be better to see it as a tech stock. If we create a hypothetical index, adding Bitcoin to the ‘Magnificent Seven’ tech stocks and removing Tesla, we would find that our ‘Magnificent Seven + Bitcoin’ (Mag 7B) index not only has a higher return rate but also lower volatility.”

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