Timmer said,
After a strong run by gold, perhaps the baton is being passed again to Bitcoin, with Bitcoin back above $100k and the two Sharpe Ratios now converging… At a 4:1 ratio, gold’s volatility has been roughly equal to Bitcoin, as has its relative performance.
— Jurrien Timmer, X post, 16 May 2025
By scaling gold exposure to four times that of Bitcoin, Timmer finds that historical volatility and cumulative returns align closely.
The rule of thumb frames the two assets as complementary stores of value rather than competitors, offering allocators a template to balance inflation hedging with upside participation in the digital-asset market.
