TechFlow News, April 14: According to The Block, Bitwise analysts noted that since the U.S.-Israeli airstrikes on Iran on February 28, Bitcoin’s price has risen 12%, significantly outperforming gold (down 10%) and the S&P 500 Index (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 emerging as a potential medium for international trade settlement. The analysis suggests that fragmentation of the global financial system and weaponization of financial infrastructure are driving nations to explore non-sovereign, decentralized assets. Recently, Iran’s willingness to accept Bitcoin for payments related to oil shipments further reinforces this trend. Bitwise states that geopolitical turmoil and instability within the global financial system will enhance Bitcoin’s safe-haven attributes, with its future price potentially benchmarked at $1 million.
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