According to The Block, Bitwise analysts noted that since the U.S.-Israel airstrikes on Iran on February 28, Bitcoin has risen 12%, significantly outperforming gold (down 10%) and the S&P 500 (down 1%) over the same period. Bitwise views Bitcoin as a “dual bet”: challenging gold’s dominance in the global store of value market while also having the potential to become a currency for international trade settlement. The analysis suggests that the fragmentation of the global financial system and the weaponization of financial infrastructure are driving nations to explore non-sovereign, decentralized assets. Iran’s recent willingness to accept Bitcoin for payments related to oil shipments further reinforces this trend. Bitwise states that geopolitical instability and global financial system uncertainty will enhance Bitcoin’s safe-haven attributes, potentially setting its future price on a $1 million baseline.
Bitwise: Bitcoin Outperforms Gold and S&P 500 Amid Geopolitical Tensions
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Summary
Bitcoin news shows the asset rose 12% since February 28 amid U.S.-Israel strikes on Iran, outperforming gold (-10%) and the S&P 500 (-1%). Bitwise analysts view Bitcoin as a dual bet, challenging gold’s traditional role and potentially emerging as a trade currency. Geopolitical tensions and financial instability are driving nations toward decentralized assets. Recent reports indicate Iran is open to using Bitcoin for oil payments. The Fear & Greed Index remains skewed toward fear, but Bitcoin’s performance suggests growing institutional and geopolitical interest.
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