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Fidelity’s Jurrien Timmer Favors Bitcoin Over Gold Amid Sell-off
Fidelity’s Jurrien Timmer, the Director of Global Macro, has expressed a preference for Bitcoin over gold, citing Bitcoin's price relative to gold has held up better during the recent market sell-off. Timmer noted that Bitcoin's price-to-gold ratio has improved, with one Bitcoin now buying approximately 21 ounces of gold, up from 12 ounces at its low point. This shift aligns with institutional money moving towards Bitcoin funds, which have attracted nearly $55 billion in inflows since 2024, compared to around $29 billion for gold and silver ETFs. Timmer acknowledges that gold remains a tool for diversifying against monetary and fiscal instability, but his current preference is tactical and leans towards Bitcoin for near-term prospects.