Key Highlights Fidelity Director of Global Macro Jurrien Timmer reaffirmed his investment preference for Bitcoin over gold, pointing to its resilience during broader asset sell-offs. Both Bitcoin and gold have exhibited a 60% to 70% correlation with the S&P 500 recently, moving in tandem with broader equity risk-off trends. Bitcoin traded around $75,904 as market ...
Key Highlights: Timmer’s updated model allocates 60% of a portfolio to global equities, 20% to bonds and 20% to diversified alternative assets. The alternative-assets allocation includes gold, commodities, cash, Bitcoin, REITs and managed futures. Timmer said Bitcoin’s correlation with the S&P 500 is approximately 30%, while it has no correlation with U.S. Treasury bonds. Timmer ...
Key Highlights Fidelity’s Jurrien Timmer identifies $80,000 as a critical support level for Bitcoin, suggesting a sustained breakout could confirm a double bottom pattern targeting $100,000. Timmer’s long-term “power law” model projects Bitcoin could reach approximately $300,000 by 2029 if the $60,000 level holds. The Global Macro Director maintains that Bitcoin and the Bloomberg Commodity ...
Fidelity Investments’ Global Macro Director Jurrien Timmer argues that recent U.S. Treasury operations—specifically increased long-term bond buybacks paired with heightened short-term bill issuance—are pressuring the dollar while providing tailwinds for Bitcoin and gold. Treasury Buybacks Weaken Dollar, Lift Bitcoin and Gold Timmer observed that the dollar declined last week following the Treasury’s repurchase of additional ...