Summary
- It said that after the clash between the United States and Iran, bitcoin has delivered relatively higher returns than gold and the S&P 500 index.
- It assessed that even after major events such as heightened U.S.-Iran tensions, the COVID-19 pandemic, the Russia-Ukraine war and the U.S. regional banking crisis, bitcoin recorded higher returns than gold and stocks.
- With rising institutional demand and accumulation by long-term holders, bitcoin’s role as an asset is strengthening, and it reported that Strategy bought an additional 1,031 bitcoins, expanding its holdings to 762,099 BTC.
Forecast Trend Report by Period
Bitcoin (BTC) has posted relatively higher returns than gold and equities since the clash between the United States and Iran.
According to virtual-asset (cryptocurrency) news outlet Finbold on the 24th, bitcoin has risen about 12% since the clash on the 28th of last month and is trading around $71,000.
Over the same period, gold fell about 16%, while the S&P 500 index also declined about 4%. The report said that "bitcoin has recently tended to deliver stronger performance than gold and stocks following major geopolitical events."
It added that this pattern has also repeated in past episodes. According to data from River, bitcoin also recorded higher returns than gold and stocks on a 60-day basis after major events such as heightened U.S.-Iran tensions in 2020, the COVID-19 pandemic, the Russia-Ukraine war in 2022, and the U.S. regional banking turmoil in 2023.
However, the same pattern did not appear in every period. In August 2024, during the unwind of the yen carry trade, gold was an exception, posting higher returns than bitcoin.
Institutional demand is also cited as a factor underpinning price action. According to the report, Strategy bought an additional 1,031 bitcoins last week, raising its total holdings to 762,099 BTC. That amounts to about $54.2 billion.
On-chain data also show accumulation by long-term holders. On-chain analytics firm Checkonchain said in a recent update that "investors are accumulating bitcoin with an eye toward upside potential ahead."
Markets are increasingly viewing bitcoin’s role as an asset as strengthening even amid geopolitical uncertainty.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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