Bitwise: 15% split for Bitcoin and Gold dey improve 60/40 Sharpe — Gold dey shield, BTC dey drive recoveries

Bitwise analysis find say if you put together 15% into Bitcoin (BTC) and gold e go improve the risk‑adjusted performance of the normal 60/40 stock‑bond portfolio. When dem look big drawdowns since 2018 (2018, 2020, 2022 and one pullback for 2025), di study show say gold act as defensive buffer during sell‑offs (gold rise about 5–6% for some downturns), meanwhile Bitcoin suffer bigger drawdowns but e give huge recoveries (about +79% after the 2018 low and roughly +775% after the 2020 low). A 60/40 portfolio wey replace 15% of assets with split between BTC and gold get Sharpe ratio of ~0.679 over the past decade versus ~0.237 for regular 60/40; gold‑only allocation perform worse than the combined allocation. Bitcoin‑only allocations fit give higher Sharpe ratios but dem come with much higher volatility and deeper drawdowns. Bitwise frame the pair as complementary: gold dey give downside stability during stress, and Bitcoin supply growth during recoveries. The report also mention Ray Dalio suggestion to use ~15% allocation in gold or Bitcoin to hedge dollar erosion from rising fiscal deficits. Traders supposed note Bitcoin bigger swings and say the 2025 recovery still dey ongoing at publication; the report track BTC returns through April 2026. This na research, no be investment advice. Primary keywords: Bitcoin, gold, 60/40 portfolio, Sharpe ratio, drawdown. Secondary keywords: portfolio hedge, asset allocation, risk management, recovery performance.