Jurrien Timmer, Fidelity’s global macro director, currently favors Bitcoin over gold because of its stronger relative performance during the market sell-off. One Bitcoin could buy approximately 12 ounces of gold at the cycle’s low, compared with nearly 21 ounces today, pushing the ratio above its recent trading range. Spot Bitcoin ETFs have attracted nearly $55 billion in inflows since 2024, compared with about $29 billion for gold and silver exchange-traded products. Bitcoin and gold, however, have shown a 60% to 70% correlation with the S&P 500, limiting their effectiveness as safe havens during broad equity declines. Timmer continues to hold both assets as hedges against monetary and fiscal instability while maintaining a tactical preference for Bitcoin.
Source: Read the original article
