According to The Block, Standard Chartered has launched a hypothetical "Mag 7B" index, replacing Tesla with Bitcoin (BTC) in the "Magnificent 7" portfolio and finding that the new portfolio offers higher returns and lower volatility. Geoffrey Kendrick, global head of digital asset research at Standard Chartered, noted in his report that Bitcoin's short-term correlation with Nasdaq was "almost always" higher than its correlation with gold, providing a rationale for treating Bitcoin as part of tech stocks. "If Bitcoin were to be included in tech portfolios, it would attract more institutional investors to buy, as Bitcoin can play multiple roles in portfolios," he said.