If you regularly go sailing on a yacht - preferably an old wooden yacht or vintage motorboat that has been immaculately restored - then I think that it's OK.
Otherwise, in my considered opinion, you'll most likely just look silly.
Edited to add: On second thoughts, I might have sounded a bit harsh in my comments.
However, I suspect that if you don't like messing about in boats and you wear an anchor bracelet, a lot of people who notice it are going to ask, "Oh, do you like sailing?" and if you don't, then you're going to be a bit stuck for a good answer.
Edited by Journeyman - 1/2/16 at 5:19pm