Bitcoin and gold face off as Bitwise backs Dalio’s 15% hedge thesis
Bitwise finds gold cushions 60/40 portfolios in drawdowns while Bitcoin drives outsized recovery gains, with a combined 15% allocation lifting Sharpe to 0.679 versus 0.23. Summary Gold posted gains or shallow losses during major drawdowns, rising about 6% in 2018 and 2025 pullbacks as equities and Bitcoin sold off sharply. Bitcoin rallied roughly 79% after 2018…


