Bitcoin Becomes Just Another Risky (Equity) Asset

For the longest time, Bitcoin and other cryptocurrencies marched to the beat of their own drums. But ever since the Russian invasion of Ukraine and the impact that has on global inflation, Bitcoin has become much more aligned with other risk assets - like equities. Which means that with certain equity instruments, you can bet on Bitcoin with much-less expense as many of them trade at values well below Bitcoin. Like the SPDR Tech ETF (.87 positive correlation with Bitcoin) or the SPDR Consumer Discretionary ETF (.85 positive correlation). In fact, it is striking to see how that relationship between Bitcoin and equities has developed in just months (by comparing different time periods with our Relationship Building tool).

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