Bitcoin’s role in portfolio diversification remains disputed because its behavior can differ from stocks and bonds, while its volatility can also raise overall portfolio risk. Jurrien Timmer, Fidelity’s Global Macro Director, says the traditional 60% equities and 40% bonds allocation has given way to a 60/20/20 model after the pandemic: 60% equities, 20% bonds and 20% alternative assets. The alternatives allocation can include gold, commodities, cash, Bitcoin, REITs and managed futures. Timmer says Bitcoin’s correlation with the S&P 500 is 30% and that it has no correlation with US Treasury bonds. He described the allocation as a rough example rather than an optimized portfolio or investment advice. Timmer previously used a power law model to project a Bitcoin price of $300,000 by 2029. A separate weekly-chart analysis identified a Bitcoin double-bottom pattern, with a close above $82,000 described as completing the formation and opening a potential path to $100,000, or 24% upside. The $82,000 level was also identified as the average cost basis of US spot Bitcoin ETFs.