Here’s why Matrixport recommends Bitcoin for investor portfolios

Matrixport’s recent report highlights bitcoin’s impressive performance, outperforming the Nasdaq index by 73% over the past two years.

The company emphasized to X that Bitcoin is increasingly seen as a strategic investment, offering diversification and risk mitigation in investment portfolios, as well as representing a stake in the future of technology.

Bitcoin outperforms the Nasdaq index

Bitcoin has previously shown a correlation with the Nasdaq, a prominent index for US technology companies. Although there have been periods of high correlation between the two, the current is remarkably low, standing at just 9%.

This low correlation indicates that bitcoin’s performance is largely independent of the Nasdaq, offering investors the potential for returns that do not move in tandem with this benchmark.

Bitcoin is trading at $66,350, after failing to break the $70,000 resistance mark a few days ago. This drop has affected the broader crypto market, including Ethereum, the second largest cryptocurrency, which is now priced at $3.30.0, according to data from CoinGecko.

Market analysts point to several factors behind the correction, including ongoing repayments to creditors of Mt. enjoy The defunct cryptocurrency exchange has been slow to pay its creditors, and there are concerns that some of those recipients, after waiting nearly a decade, may choose to liquidate their BTC holdings. However, evidence so far indicates that most creditors choose to keep their bitcoin.

The price of Bitcoin is expected to rise

MicroStrategy Executive Chairman Michael Saylor has made a bold prediction for the future of Bitcoin. he forecasts that in 2045, the asset price could range from a bear case of $3 million to a bull case of $49 million, with a base case of $13 million. Saylor emphasizes bitcoin’s potential to revolutionize the global economy, advocating its adoption as a primary treasury asset to ensure economic stability and wealth accumulation.

MicroStrategy has established itself as the first bitcoin-focused development company. In June, MicroStrategy reported that its holdings had increased to 226,331 BTC, valued at $8.33 billion.

Saylor argues that the US government should hoard most of the world’s bitcoins to bolster the dollar, comparing BTC to critical assets acquired in the past. In addition, he emphasizes that the future of the country is in cyberspace, positioning bitcoin as “Cyber ​​Manhattan”.

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