Which Holds Up Better During Crises?
The post Which Holds Up Better During Crises? appeared on BitcoinEthereumNews.com.
Bitcoin faced volatility after Israel’s airstrikes on Iran triggered market unrest. Peter Schiff highlighted Bitcoin’s failure as a safe haven amid Israel-Iran tensions. Historical data shows Bitcoin often rebounds stronger after geopolitical events. Bitcoin experienced volatility on Friday following the airstrike by Israel on Iran. The intensification of conflicts shook the world markets, resulting in substantial corrections for the cryptocurrencies. Bitcoin, which was above $107,000 since June 9, briefly fell under $103,000. At the time of press, BTC is at $104,815, showing a 2.23% decrease over the last 24 hours. The market’s performance amid geopolitical tensions has raised doubts about Bitcoin as a safe-haven asset. Gold supporter Peter Schiff was swift to highlight the difference between Bitcoin and conventional assets in a crisis. Amidst a 5% rise in oil prices and a 1.5% fall in S&P futures, Bitcoin fell by 2%. Israel attacks Iran. Oil prices jump 5% while S&P futures fall 1.5%. In response, investors seeking a safe haven buy gold, sending its price up 0.85%. Meanwhile, investors dump Bitcoin, pushing its price down 2%. How can anyone consider Bitcoin to be a digital version of gold? — Peter Schiff (@PeterSchiff) June 13, 2025 The remarks of Schiff challenged Bitcoin as digital gold. He pointed out that investors rushed towards the gold, causing its price to increase by 0.85%. Conversely, Bitcoin lacked resilience, which brought into question its suitability as a store of value during turbulent periods. Bitcoin Outperformed Gold and Stocks in Crisis The Bitcoin enthusiasts, however, were quick to disagree with this narrative. Blockstream CEO Adam Back pointed to past performance to reveal that Bitcoin has beaten traditional assets following past geopolitical crises. He pointed out that even though Bitcoin is prone to short-term decline, it tends to rebound, and usually with greater strength than gold and…
Filed under: News - @ June 13, 2025 11:19 pm