Jurrien Timmer, director of the world macro at Fidelity, A heard Whether it's Bitcoin's “to take the lead”.
The executive of Fidelity believes that gold could pass the stick to its digital rival in the near future according to the Sharpe ratios of the two active ingredients.
The Bitcoin Sharpe ratio is currently at -0.40, which means that it has in fact returned less than the risk -free rate. At the same time, the yellow metal, which has a 1.33 Sharpe ratio, considerably surpassed Bitcoin while exposing its investors to a lower risk level.
The main cryptocurrency is down 17% against gold this year, the latter benefiting from economic chaos caused by disputes related to prices.
Earlier in the day, Bitcoin approached the level of $ 98,000 on the Bitstamp exchange, reaching the highest level since the end of February.
“Different players of the same team”
Timmer believes that investors should have both gold and bitcoin. He believes that investors should have these two assets in a 4: 1 gold / bitcoin ratio.
However, according to the Executive Fidelity, Bitcoin is “slightly different” because it can act both as difficult money and a speculative asset.
“Bitcoin is slightly different from gold, because it has this personality from Dr Jekyll and Mr. Hyde where you never know which Bitcoin will come to the party,” he said.
