EddieJayonCrypto
18 Apr 25
Jurrien Timmer, director of global macro at Fidelity, compared Bitcoin to Dr. Jekyll and Mr. Hyde to illustrate its dual nature as both a store of value and a risk-on asset. He contrasted this with gold, which he described as consistently "hard money." Timmer noted the unpredictability of Bitcoin's ...
Jurrien Timmer, director of global macro at Fidelity, uses the vivid metaphor of Dr. Jekyll and Mr. Hyde to describe Bitcoin's dual nature. Unlike gold, which he refers to as consistently "hard money," Bitcoin simultaneously acts as both a store of value (Dr. Jekyll) and a risk-on asset (Mr. Hyde). This duality renders Bitcoin's behavior unpredictable and volatile, contrasting with gold's reliable performance.Despite this volatility, Timmer advocates for including Bitcoin in investor portfolios as a diversification tool. He emphasizes that while gold's role is always clear and steady, Bitcoin’s role is less certain but still significant in balancing risk and reward.Meanwhile, JPMorgan has expressed skepticism regarding Bitcoin's reliability as a safe-haven asset, stating that it has yet to prove its worth in that role.Timmer’s analogy draws from the classic gothic novella by Robert Louis Stevenson, in which the character Dr. Henry Jekyll transforms into the contrasting persona of Mr. Edward Hyde, embodying a struggle between respectable and darker sides. Similarly, Bitcoin’s investment character can shift between stable and speculative traits.In summary, Timmer suggests that owning Bitcoin complements traditional stores of value due to its unique characteristics, even as leading financial institutions remain cautious about its safe-haven status.