00:00If I'm an institutional investor who has billions of dollars that I'm managing for other people,
00:04I want to have a portfolio that has non-correlated assets, meaning they don't all move in the same
00:10direction with each other. So that way I can diversify my risk across all the other assets.
00:15It's kind of like a teeter-totter effect, right? It's one of the classic pieces of investing advice
00:19you get in the beginning, which is to own some stocks and some bonds. Because when stocks go up,
00:24bonds go down. And when bonds go up, stocks go down. So your risk is diversified. But since
00:30Bitcoin fell and the stock market fell, it reaffirms to those guys, at least for now,
00:36that Bitcoin is a very correlated risk on asset. And if I'm a hedge fund investor, I might want to
00:43hold off on buying Bitcoin until I see that they don't move in the exact same direction to each other.
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