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Fidelity: Gold to Pass Baton to Bitcoin
According to a recent statement by Fidelity executive Jurrien Timmer, gold is expected to “pass the baton” to Bitcoin in the future. This shift could be attributed to the growing popularity and adoption of cryptocurrencies, as well as their unique characteristics that differentiate them from traditional assets.
Timmer believes that investors should own both gold and Bitcoin, but notes that he sees Bitcoin playing a more dominant role in the long term. He suggests a 4:1 ratio in favor of gold over Bitcoin. While acknowledging the differences between these two assets, Timmer emphasizes that investors should have exposure to both.
The statement comes at a time when Bitcoin has been gaining significant traction, with its price approaching the $98,000 mark on the Bitstamp exchange for the first time since late February. The asset’s increasing popularity is likely contributing to the shift in sentiment towards it as a viable alternative to gold.
In the past, there have been instances where investors turned to Bitcoin and other cryptocurrencies as an alternative store of value due to their decentralized nature and potential for high returns. This trend may continue if the cryptocurrency market continues its upward trajectory.
While some experts may view this as a shift away from traditional assets like gold, it is crucial to remember that both can coexist and complement each other in a diversified portfolio.
Source: https://u.today/fidelity-gold-to-pass-baton-to-bitcoin
