Bitcoin now more correlated to stocks and still has value in traditional portfolios

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City AM

By Darren Parkin Bitcoin remains a valuable addition to a traditional asset portfolio, according to research by a leading investment manager. Switzerland-based Tyr Capital, has found that, despite market volatility, portfolio managers across the globe were still allocating the flagship cryptocurrency. By revisiting the company’s 2020 research using market data from 2016-2022, researchers also found that, while Bitcoin remains uncorrelated to gold and US government bonds, the relationship between Bitcoin and US stocks has changed. Bitcoin is now more correlated to US stocks, particularly since …

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