Fidelity Exec Says Bitcoin and Gold Are on the Same Team

Jurrien Timmer, director of global macro at Fidelity, has once again drawn parallels between Bitcoin and gold, claiming that these two assets are playing on the same team.

Timmer has compared how gold and its digital version respond to monetary expansion (M2 growth).

The executive has noted that gold has had a linear correlation with M2 over the past decades. At the same time, Bitcoin follows a power curve, meaning that the cryptocurrency has experienced exponential growth during a period with substantial liquidity expansion.

The comparison shows that the two assets indeed play on the same team, but Bitcoin tends to act as a high-reward player.

“It’s interesting that there’s a linear correlation between M2 and gold, but a power curve between M2 and Bitcoin. Different players on the same team,” he noted.

Earlier, Timmer described Bitcoin as “exponential gold,” claiming that the original cryptocurrency is an “aspiring player” on the “store of value” team.

As reported by U.Today, Bloomberg’s Mike McGlone recently predicted that gold could continue outperforming the leading cryptocurrency in 2025.

Earlier this month, Timmer commented that Bitcoin seemed “stuck” at the $100,000 level.

This Friday, the flagship cryptocurrency recently came close to reclaiming the aforementioned level after the SEC dropped the Coinbase lawsuit, but it has since pared its gains following the damning Bybit hack.

Bitcoin is currently trading at $96,683, according to CoinGecko data.

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