Fidelity Executive Sees Bitcoin as Key Portfolio Diversifier

Fidelity's financial expert has brought Bitcoin to the forefront as an investment option for diversifying portfolios.

Timmer, the Fidelity executive, has stated that Bitcoin's correlation with the S&P 500 is around 30%, while its correlation with long-term bonds is almost zero.

He also mentioned that after Bitcoin's movement beyond $80,000, a new target of $100,000 for BTC ($86,310.00 · Live) has come back into focus.

In his September 19 assessment, Timmer suggested that after approximately one year passing the $60,000 mark, Bitcoin might enter a new four-year cycle.