The 'Bitcoin Treasury' Strategy Spawns a Wave of Public Imitators
More than a dozen smaller listed companies have rebranded around large Bitcoin holdings, hoping to capture the equity premium MicroStrategy turned into a category.
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More than a dozen smaller listed companies have rebranded around large Bitcoin holdings, hoping to capture the equity premium MicroStrategy turned into a category.
After two years near zero, the rolling correlation between Bitcoin and the S&P 500 has nearly doubled, raising hard questions about the asset's diversification value.
Crypto and equities fell together after the administration unveiled sweeping tariffs, sending BTC down nearly 15% in a single 48-hour stretch.
For most of late 2023 and early 2024, BTC's 90-day correlation with U.S. equities collapsed toward zero, only to climb back later in the year.
Every six months, someone declares the BTC-equity correlation broken. They're always wrong, and the data is now too clear to keep entertaining the idea.