Business

Standard Chartered Ditches Tesla For Bitcoin

Standard Chartered has been testing a new version of the "Magnificent 7" index, replacing Tesla with Bitcoin (BTC). Named "Mag 7B," this revised index has outperformed the original, offering higher returns and lower volatility.

Haider Jamal
March 25, 2025

Bitcoin Over Tesla?

With a $1.7 trillion market cap, double that of Tesla’s, Bitcoin provides a stronger risk-reward balance. Geoffrey Kendrick, the bank’s digital assets research head, argues that Bitcoin fits better with Nasdaq than gold, making it a strong addition to tech-heavy portfolios.

Source: Yahoo Finance

Moreover, since 2017, Mag 7B has outperformed the original by 5%, delivering stronger returns in five of the past seven years, with nearly 2% less volatility.

Revising Institutional Portfolios

Bitcoin’s growing role as both a tech asset and hedge further solidify its place among companies like Apple and Microsoft, as well as others like Strategy, Goldman Sachs, and Metaplanet.

The rise of Bitcoin ETFs has also made trading it as easy as major stocks, with Bitcoin fulfilling dual roles in both tech and traditional finance portfolios.

Following Standard Chartered’s testing of their new version, Bitcoin rose over 3.5%, pushing the total crypto market cap to $2.9 trillion. Meanwhile, altcoins like ETH, XRP, SOL, and DOGE also saw gains.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.