Bitcoin outperforms gold as Iran war shakes ‘safe-haven’ trade

headline Bitcoin outperforms gold as Iran war shakes safe haven trade, published at 2.24 p.m.

March 24th, 2026. Since Donald Trump joined Israel's war with Iran

at 1.15 a.m. New York time on February 28th, Bitcoin BTC has rallied 8% while gold has fallen

18%. At the onset of war, BTC was trading at $65,492 and gold was at $5,279 per ounce.

By Monday evening, however, BTC had jumped to $70,700 while gold had tumbled to $4,300.

All this means that BTC now buys 32% more gold than it did on the morning of Operation Epic Fury.

Indeed, the world's most valuable precious metals shed 12% in a single week.

It's worst seven-day stretch since 1983. Investors who bought gold as war insurance

watched their policy lose a fifth of its value in four weeks. Bitcoin orange versus gold

blue February 28th to March 23rd, 2026. Source trading view

safe haven investors get a margin call. Gold's initial move on the start of the conflict was a

fake out. It spiked higher after the Strait of Hormuz oil tanker shipping lane closure,

but reversed hard US treasury yields climbed and the dollar strengthened. Two forces that

typically dampen the price of gold regardless of how many warships are in the Persian Gulf.

The sizeable SPDR gold shares ETF, hemorrhaged $4.2 billion in the first week of the war,

breaking the record for weekly outflows in the funds history.

Investors pulled 25 tons of physical gold backing from the world's biggest gold ETF

within seven days. Bitcoin absorbed the same shock yet held onto its gain.

It even outperformed the S&P 500 index which has fallen over 3% since the war began.

Read more how bombing Iran shifted oil and Bitcoin prices.

Bridgewater associates founder Ray Dalio advised on the popular all-in podcast on March 3rd

that central banks are never going to want to buy BTC.

There is only one gold, he claimed. Since Dalio's prediction gold has dropped more than 15%.

BTC, the asset Dalio dismissed rallied. Although BTC has performed well since the US

authorized the bombing of Iran, it hasn't outperformed gold over longer recent time periods.

Year to date, the gold price is flat versus the 20% loss for BTC. Over the past 12 months,

gold is up 44% versus a 17% loss for BTC. This audio is AI generated. Got a tip?

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