A Fidelity executive has stated that Bitcoin is on track to become the leading safe-haven asset, potentially taking the place of gold.

Bitcoin’s significant rally in 2024 and changing risk appetite are bolstering its reputation as a new safe-haven asset. Market indicators show some uncertainty as large investors adjust their positions around $95K, suggesting a potential shift. Bitcoin is gradually entering a space traditionally occupied by gold, gaining support from prominent figures in conventional finance. Jurrien Timmer, Global Macro Director at Fidelity Investments, highlighted an important change in performance indicators, reflecting Bitcoin’s evolving role in the global market. Interestingly, gold and bitcoin have an inverse correlation. The chart presented below illustrates that recently, both assets have been alternating in performance, as indicated by their Sharpe Ratios. It seems that bitcoin might be poised to take charge, as its Sharpe Ratio indicates… pic.twitter.com/yhTDRemt3e. — Jurrien Timmer (@TimmerFidelity) posted this on May 2, 2025. He highlighted that Bitcoin has a Sharpe Ratio of -0.40, whereas gold’s Sharpe Ratio is significantly higher at 933. The inverse relationship between their assets is influencing the leadership transition conversations. Additionally, Bitcoin captured significant attention in 2024 by finally surpassing the expected $100,000 milestone last month,” remarked Timmer. Gold had a strong year, outperforming the S&P 500. Despite its gains, gold experienced an increase in volatility over the last ten years, and its price increase has been overshadowed by the appeal of Bitcoin in society and its rapid price rise. Currently, Bitcoin is valued at $96,505.39.