Fidelity's Timmer Prefers Bitcoin Over Gold After Both Fall in Sell-Off

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Fidelity’s Timmer Prefers Bitcoin Over Gold After Both Fall in Sell-Off

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Bitcoin Gold

Fidelity's Jurrien Timmer says he prefers Bitcoin over gold right now, even though both assets fell in the latest sell-off. His case rests on Bitcoin's price measured against gold, which has held up. He also says neither asset has acted as a hedge against falling stocks.

Fidelity's Director of Global Macro, Jurrien Timmer, prefers Bitcoin over gold right now. Bitcoin and gold both declined in the latest market sell-off, which the research places around November 6-7. Timmer is not claiming Bitcoin rose while gold fell.

Bitcoin gains ground on gold

His focus is the ratio between the two assets. One Bitcoin bought approximately 12 ounces of gold at its low point in this cycle, and it now buys roughly 21 ounces.

The move has pushed Bitcoin above the recent trading range it held against gold. For technical analysts, a break like that often signals a change in leadership between two assets.

Timmer has recorded several rotations of speculative capital between Bitcoin and gold since late 2025. Those rotations picked up after Bitcoin peaked close to $126,000 in 2025 and gold's own momentum began to fade.

ETF flows point the same way

Timmer's preference lines up with where institutional money has been going. Since 2024, spot Bitcoin ETFs have pulled in nearly $55 billion in inflows.

Gold and silver exchange-traded products, by comparison, have attracted around $29 billion over the same stretch. That puts Bitcoin funds at roughly double the precious metals haul.

Neither asset acts as a safe haven

Both Bitcoin and gold have recently shown a correlation of 60-70% with the S&P 500. In other words, when stocks fall, these two have tended to fall alongside them, which is why neither has behaved like a safe haven lately.

Timmer has not abandoned gold, however. He continues to endorse both assets as tools for diversifying against monetary and fiscal instability. His lean toward Bitcoin is a tactical tilt about near-term prospects, not a declaration that gold has lost its place in a portfolio.

Source: Crypto Briefing

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