Bitcoin (CRYPTO: BTC) should be viewed as an asset uncorrelated to U.S. tech assets over the long term, according to Jay Jacobs, U.S. Head of Equity ETFs at BlackRock (NYSE:BLK).
What Happened: Speaking in an interview with CNBC on Thursday, Jacobs emphasized that Bitcoin’s performance is being driven by different macroeconomic forces than traditional equities.
“The long-term correlation between U.S. stocks and Bitcoin is more like 0.2 or 0.3,” he said. “It’s a lowly correlated asset.”
Jacobs explained that while short-term volatility may cause different assets to move in sync, Bitcoin has shown a tendency to …
Full story available on Benzinga.com
Bitcoin (CRYPTO: BTC) should be viewed as an asset uncorrelated to U.S. tech assets over the long term, according to Jay Jacobs, U.S. Head of Equity ETFs at BlackRock (NYSE:BLK).
What Happened: Speaking in an interview with CNBC on Thursday, Jacobs emphasized that Bitcoin’s performance is being driven by different macroeconomic forces than traditional equities.
“The long-term correlation between U.S. stocks and Bitcoin is more like 0.2 or 0.3,” he said. “It’s a lowly correlated asset.”
Jacobs explained that while short-term volatility may cause different assets to move in sync, Bitcoin has shown a tendency to …
Full story available on Benzinga.com
Bitcoin (CRYPTO: BTC) should be viewed as an asset uncorrelated to U.S. tech assets over the long term, according to Jay Jacobs, U.S. Head of Equity ETFs at BlackRock (NYSE:BLK).
What Happened: Speaking in an interview with CNBC on Thursday, Jacobs emphasized that Bitcoin’s performance is being driven by different macroeconomic forces than traditional equities.
“The long-term correlation between U.S. stocks and Bitcoin is more like 0.2 or 0.3,” he said. “It’s a lowly correlated asset.”
Jacobs explained that while short-term volatility may cause different assets to move in sync, Bitcoin has shown a tendency to …Full story available on Benzinga.com Read More$BTC, bitcoin ETF, BLK, Cryptocurrency, Expert Ideas, News, Top Stories, BLK, US09247X1019, $BTC, News, Cryptocurrency, Top Stories, Benzinga News
