analyst: Bitcoin is still a great way to diversify portfolio even if it trades like a tech stock, analyst says

The central debate has shifted from whether bitcoin can survive to if it can function as a sovereign reserve asset, as critics assess it by institutional standards. What to know : Even though Bitcoin's correlation with major stock indexes is elevated (near 0.5), equities only explain about 25% of its price movements. The central debate has shifted from whether bitcoin can survive to whether it can function as a sovereign reserve asset, as critics assess it by institutional standards. Bitcoin's growth does not depend on central bank adoption. Its value is derived from its globally distributed, politically neutral network and its adoption by individual users.