According to BeInCrypto, Geoff Kendrick, head of digital asset research at Standard Chartered Bank, stated in an interview that the trend of Bitcoin as an inflation hedge tool is strengthening. Kendrick pointed out that Bitcoin is highly correlated with the Nasdaq index in the short term. He claimed that Bitcoin may not only be an inflation hedge tool, but more like a replacement for technology stocks: "Rather than seeing Bitcoin as a hedge against traditional financial (TradFi) problems, it is better to see it as a technology stock. If we create a hypothetical index that adds Bitcoin to the 'Big Seven' technology stocks and excludes Tesla, we will find that our 'Big Seven+Bitcoin' (Mag 7B) index not only has higher returns, but also lower volatility
