Fidelity executive: Speculative capital moving from crypto to tech stocks

Jurrien Timmer, Director of Global Macro at Fidelity Investments, has noted that highly speculative short-term capital is rapidly flowing out of the cryptocurrency and precious metals markets, U.Today reported. He explained that these funds initially moved into Bitcoin and then into gold, leading to a near-vertical surge in gold prices. Now, however, this capital is being concentrated in technology stocks, Timmer added.