🧐 Can Bitcoin replace TSLA?

Why king crypto is trading like a tech stock recently.

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Happy Monday!

Bitcoin is trading like a tech stock recently, according to Standard Chartered analysis. But the bank says, it could replace Tesla as part of the Mag 7 — how would that work?

Strategy has done it again and slammed the buy button on Bitcoin. The company now holds over half a million BTC in its treasury — here are the details about its latest buy.

Plus, join us on Thursday, 3/27 @ 11am EST for an insightful session with Kristin Boyd, Senior Vice President, Global Head of Derivatives Sales and Distribution of Cboe Global Markets, where she will delve into the diverse range of products offered by Cboe and how these can be valuable tools for traders navigating today’s dynamic market environment.

TOP STORY

Bitcoin may have outgrown its status as just a hedge against traditional finance risks and is increasingly behaving like a Nasdaq-listed tech stock, according to new research by Standard Chartered.

The bank created a new index called Mag 7B that includes Bitcoin and found the following:

“We find that Mag 7B has both higher returns and lower volatility than Mag 7,” the bank wrote in its latest report.

How does Mag 7B work and what does that mean for Bitcoin?

SPONSORED CONTENT

Join us Thursday, 3/27 @ 11am EST for an insightful session with Kristin Boyd, Senior Vice President, Global Head of Derivatives Sales and Distribution of Cboe Global Markets, where she will delve into the diverse range of products offered by Cboe and how these can be valuable tools for traders navigating today’s dynamic market environment. 

Topics include:

  • Key trends in trading volume, reflecting how uncertainty around market direction is influencing trader behavior

  • Rising activity in volatility products, offering a unique opportunity for investors to express their views on the range of potential outcomes in volatility and equity markets

  • Empowering the Future of Finance: Discussing Cboe’s commitment to trader education for professionals of all backgrounds.

QUICK N DIRTY

Bitcoin ETFs finally snapped their five-week outflow streak and saw strong inflows last week. How much did they buy?

Coinbase could benefit from tokenization as it merges crypto and equities, according to the latest research by Bernstein. What do they predict?

Dogecoin and Shiba Inu are gearing up for a new rally — if we believe the bullish technical indicators and increasing token burns.

FINTECH FOCUS

Bitcoin treasury giant Strategy, ex-MicroStrategy, has officially crossed a key milestone by amassing over half a million BTC as part of its ongoing accumulation strategy.

The purchase, totaling $584.1 million, was executed at an average price of $84,529 per Bitcoin.

With this latest buy, Strategy now holds 506,137 BTC — equating to approximately $44 billion in current market value.

What are Saylor’s next plans?

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