TLDR
- Fidelity’s Jurrien Timmer views Bitcoin as a portfolio diversifier beyond stocks and bonds.
- Bitcoin’s five-year correlation with the S&P 500 stands near 30%.
- Its correlation with long-term U.S. Treasuries remains close to zero.
- Timmer said Bitcoin became more interesting after breaking above the $80,000 level.
- He sees a confirmed double-bottom pattern that could point toward the $100,000 area.
Bitcoin could offer diversification beyond standard stock-and-bond portfolios, according to Jurrien Timmer, director of global macro at Fidelity Investments. Timmer grouped Bitcoin with commodities, gold, cash, alternative strategies, and leveraged loans as assets that may behave differently from equities and bonds. His comments frame Bitcoin as a potential complement rather than a replacement for stocks and bonds.
Since the advent of Bitcoin in 2008, the crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure. Unfortunately, our rules and regulations have not kept pace.
To that end, today’s proposal would… https://t.co/9C5LvRb8b5
— Paul Atkins (@SECPaulSAtkins) October 1, 2026
Fidelity Puts Bitcoin Among Portfolio Diversifiers
Timmer’s chart shows Bitcoin holding a five-year correlation of about 30% with the S&P 500. Its correlation with long-term U.S. Treasuries sits close to zero, placing the cryptocurrency between several major asset classes.
The view comes as Bitcoin shows renewed strength after moving above $80,000. Recent Bitcoin ETF inflows showed U.S. spot funds attracting fresh capital as BTC recovered above $84,000, while futures open interest fell to a 2026 low.
Timmer had been watching the $80,000 area as an important level. On September 25, he said a clear breakout could confirm a double-bottom pattern and open a path toward roughly $100,000.
Bitcoin later moved above that level and traded near $85,984, gaining about 2.2% over 24 hours. The move gave Timmer the confirmation he had been watching after Bitcoin spent several sessions rebuilding momentum above earlier support.
Fidelity’s Timmer said the move made Bitcoin especially interesting compared with other portfolio assets. A separate Bitcoin market report showed BTC testing the $85,000 to $86,500 zone after earlier gains above $87,000, with buyers focused on holding that range.
Bitcoin Gains Ground Against Gold
Timmer also pointed to Bitcoin’s performance when priced in gold. He said the ratio has shown strength, even as he continued to favor both assets as portfolio diversifiers and watched how Bitcoin behaved against traditional stores of value.
The comparison comes as Bitcoin pushes through another key market area. Recent Bitcoin price coverage showed BTC moving back above $86,000 while traders watched resistance near $87,000 and Citi raised its 12-month target to $113,000.
On September 19, Timmer said Bitcoin may be entering another four-year bull-market cycle after spending about a year near $60,000 support. He noted that past Bitcoin downturns often lasted close to one year, making the long support period part of his latest market assessment.
