Written by Charles Ledoux
Translated on May 20, 2025 at 11:51 by Hugo Le follézou)
Despite a mixed start to 2025, Bitcoin continues to prove itself a safe haven asset alongside gold. With a similar Sharpe ratio, BTC is increasingly attracting institutional investors who have traditionally opted for the precious metal. Is Bitcoin ready to overtake gold?
As Bitcoin once again surpasses the symbolic $105,000 mark, its transformation into a safe haven asset is accelerating. According to Jurrien Timmer, global macro director at Fidelity, the leading cryptocurrency is now poised to succeed gold as the benchmark safe haven. Bitcoin is on track to reach new highs by 2025.
A higher Sharpe ratio is a positive metric for Bitcoin, significantly increasing the likelihood of reaching new all-time highs above $110,000 in May. According to Bitcoin Suisse, a cryptocurrency custody firm, BTC’s high Sharpe ratio has allowed the asset to thrive in both risk-on and risk-off environments since the U.S. presidential election. It has also allowed the asset to reach all-time highs above $250,000.
Many analysts believe Bitcoin could reach new all-time highs by the end of 2025. Among the most optimistic scenarios, a model based on the gold/Bitcoin valuation sets a target of $444,000 if BTC recalibrates against the total value of gold.
A more conservative, but still considered "reasonable," prediction points to a target price of $220,000, according to analyst Apsk32. These projections are based on an environment favorable to currency devaluation, as well as the growing institutional adoption of Bitcoin through ETFs...
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