Fidelity: Bitcoin Emerging as Gold’s Potential Replacement

J. Jurrien Timmer, global macro strategist at Fidelity Investments, believes that gold may be relinquishing its status as a safe haven asset to Bitcoin. He cites Bitcoin’s recent surge above $100,000 and the convergence of their Sharpe Ratios as evidence for this shift. This outlook aligns with JPMorgan’s prediction that Bitcoin could outperform gold in the second half of the year. Timmer suggests a 4:1 ratio between gold and Bitcoin to illustrate how volatile gold is compared to Bitcoin.