According to online reports, eToro analyst Lale Akoner said investors are increasingly using Bitcoin as a way to diversify their portfolios. The S & P 500 index is biased towards large technology stocks, especially Nvidia, with few defensive stocks. Long-term U.S. Treasuries were once sought after as a diversified investment vehicle, but have recently come under pressure. That means investors are looking for other assets to protect their portfolios from potential losses, she said. "I think that's why we're seeing more gold and bitcoin." She said Bitcoin is still a high-risk asset, but it can be well diversified.