Matrixport officially posted on social media that it is widely believed that Bitcoin represents a bet on the future of technology
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Aug 1
and that Bitcoin has historically correlated with the Nasdaq index, the benchmark index for United States technology companies. Over the past two years, Bitcoin has outperformed the NASDAQ by 73%. While Bitcoin's correlation with the NASDAQ is sometimes high, the current correlation is only 9%, suggesting that investors have access to a return stream with no correlation. Incorporating high-return, uncorrelated assets into a portfolio is undoubtedly an attractive strategy for investors.
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