The post Bitcoin to Replace Gold as Top Safe-Haven Asset, Says Fidelity Executive appeared on BitcoinEthereumNews.com.

Bitcoin’s strong 2024 rally and a shift in risk sentiment are fueling its case as a new safe-haven asset. Market metrics suggest uncertainty as whales shift positions near $95K, pointing to a possible turning point. Bitcoin is steadily climbing into territory long held by gold, with fresh support from leading voices in traditional finance. Jurrien Timmer, Director of Global Macro at Fidelity Investments, pointed out a key shift in performance metrics, noting Bitcoin’s changing role in global markets. Ironically, gold and bitcoin are negatively correlated to each other. As the chart below shows, both assets have been taking turns lately, as measured by their Sharpe Ratios. From the looks of it, it may well be bitcoin’s turn to take the lead, given that its Sharpe Ratio is… pic.twitter.com/yhTDRemt3e — Jurrien Timmer (@TimmerFidelity) May 2, 2025 He pointed out that the Sharpe Ratio of Bitcoin is -0.40 while that of gold is much higher at 1.33. The negative correlation between the assets of the two is driving the change of guard discussions. Bitcoin also got all the attention in 2024, having finally crossed the long-anticipated $100,000 mark last month,” Timmer noted. Gold, however, still had a solid year, coming out ahead of the S&P 500. But even as it surged, gold suffered an uptick in volatility over the past decade, while its price climb has been dwarfed by the allure of Bitcoin in broader society and its parabolic price trajectory At present, Bitcoin is trading at $96,505.39. It is just a bit lower than the figure of its last peak, and experts are taking sides on whether the current level is the mark of a long-term consolidation phase or if still another rally is coming up. Bitcoin Traders Pull Back Amid $92K–$95K Tug of War Even though Bitcoin has been seeing strong price action,…

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Filed under: News - @ May 4, 2025 10:28 am