Bitcoin may now be considered a tech stock in addition to a hedge against financial instability, according to Standard Chartered’s Geoffrey Kendrick. A revised tech stock index including Bitcoin outperformed the original, suggesting Bitcoin can be a hedge against traditional finance and a part of tech allocation. Institutional flows into Bitcoin are increasing, strengthening its role in global portfolios. Kendrick sees Bitcoin as a hedge against traditional finance risks in the medium-term, but highly correlated with the Nasdaq in the short-term. Anticipated market relief and tech optimism could boost Bitcoin’s demand. Bitcoin’s hybrid nature as both a hedge and high-beta tech asset positions it as a potential long-term investment.

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