Bitcoin and Gold: A Power Couple or Just Frenemies? 🤑✨
Jurrien Timmer, director of global macro at Fidelity, once again thinks he’s cracked the code of the universe by comparing Bitcoin and gold. Yep, folks, gold and its flashy younger sibling, Bitcoin, are apparently teammates on the wealth Olympics. Who knew? 🏅
According to Timmer, gold has been dutifully showing a linear correlation with M2 (that’s monetary expansion for you non-economists), like a disciplined marathon runner. Meanwhile, Bitcoin is more like that sprinter who does flips at the finish line—it’s following a power curve, showing off with exponential growth every time central banks hit the pedal on liquidity. 🍾📈
“Different players on the same team,” Timmer quipped, probably with a smirk. Gold is the steady and reliable team captain while Bitcoin is the unpredictable star forward who’s either winning games or breaking the rules. We’re all watching in suspense. ⚽💥
Oh, and let’s not forget, Timmer previously touted Bitcoin as “exponential gold” (it’s like calling Superman an aspiring Batman, isn’t it?). He labeled Bitcoin an “aspiring player” on the “store of value” team—because clearly, gold needs competition to keep it on its toes. 🦸♂️💰
On another note, Bloomberg’s Mike McGlone revisited the debate recently, throwing in a spicy prediction that gold could outperform Bitcoin in 2025. This feels like betting on a tortoise against an overly caffeinated rabbit. 🐢☕🐇
In early October, Timmer amusingly commented that Bitcoin was “stuck” at the $100,000 level—probably like a contestant refusing to leave their spot on a trivia game timer. Spoiler alert: Bitcoin did inch close to breaking $100,000 this Friday (cue the confetti cannons 🥳🎉) after the SEC decided Coinbase wasn’t enemy No. 1 anymore. But alas, the good vibes were short-lived, thanks to the Bybit hack that wiped the crypto smile off several faces. Oops. 💻🔓💸
As of now, Bitcoin is trading at a modest $96,683, according to CoinGecko. Not bad for the moody teen of the investment world. 🌟🤑
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2025-02-21 22:26