Standard Chartered has introduced a new twist to the well-known “Magnificent 7” index by replacing Tesla with Bitcoin. This updated version, called Mag 7B, has outperformed the original by delivering higher returns with lower volatility.
This raises a big question: Does Bitcoin deserve a place among the world’s top tech giants? It certainly does make a strong case. Let’s dive in.
The experiment found that Bitcoin, with a market cap of $1.7 trillion – more than twice Tesla’s – brings a stronger balance of risk and reward. Geoffrey Kendrick, head of digital assets research at Standard Chartered, pointed out that Bitcoin moves more like the Nasdaq than gold, suggesting it fits well in a tech-heavy portfolio.
Since December 2017, Mag 7B has outpaced the original index by 5%, delivering stronger yearly returns in five of the past seven years. It has also been nearly 2% less volatile on average, making it a steadier option than Tesla.
Bitcoin’s rising market cap and growing acceptance by institutional investors make it a strong candidate for mainstream portfolios. It is increasingly seen as both a technology-driven asset and a hedge against traditional finance, standing alongside giants like Apple, Microsoft, and Nvidia.
Spot Bitcoin ETFs Make Investing Easier
The introduction of spot Bitcoin ETFs in early 2024 has made trading Bitcoin as simple as buying major stocks. Kendrick believes Bitcoin now serves two roles—acting as a hedge against financial uncertainty while also being a key asset in tech-focused investments.
Current market trends look promising for Bitcoin. With the Nasdaq facing challenges, some investors may shift their money into Bitcoin. A key US tariff decision on April 2 could also impact the market, and some experts believe Bitcoin could rise toward $90,000.
Following the news, Bitcoin climbed more than 3.5% on Monday, pushing the total crypto market cap to $2.9 trillion. Other major cryptocurrencies also gained:
As Bitcoin continues gaining traction with institutional investors, its position in global finance is becoming more significant. The real question now is how long before more institutions follow Standard Chartered’s lead.
As per Coinpedia’s BTC price prediction, 1 BTC could peak at $169,046 this year if the bullish sentiment sustains.
With increased adoption, the price of 1 Bitcoin could reach a height of $610,646 in 2030.
Projecting a 10-year growth in a volatile asset like Bitcoin seems a far-stretched notion. The BTC price is expected to cross $600,000 by 2030. With global adoption, Bitcoin could be worth 1 million dollars.
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