Jurrien Timmer, global macro strategist at Fidelity Investments, analyzed the dynamics between Bitcoin and gold, pointing out that Bitcoin could potentially surpass gold's dominant position at any time. According to the change in Sharpe ratios measuring the risk-adjusted returns of these two assets, gold and Bitcoin are negatively correlated to each other. With Bitcoin's Sharpe ratio at -0.40 and gold at 1.33, this means that Bitcoin may lead the market next and we may see the baton pass from gold to Bitcoin. Jurrien Timmer advised investors to start with a portfolio of four parts gold to one part Bitcoin, as gold's volatility is only a quarter of Bitcoin's, despite having similar Sharpe ratios.
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Fidelity: Bitcoin could surpass gold's dominance at any time
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