13.06.2025 23:19

Following recent Israeli airstrikes on Iranian targets, global markets experienced significant turmoil, impacting Bitcoin's price. The cryptocurrency, which had traded above $107,000 since June 9th, briefly dipped below $103,000 on Friday before recovering slightly. At the time of writing, Bitcoin sits at approximately $104,815, reflecting a 2.23% decrease over the past 24 hours. This volatility has reignited the debate surrounding Bitcoin's role as a safe haven asset.

Prominent gold advocate Peter Schiff seized upon this market reaction, contrasting Bitcoin's performance with that of traditional assets. He highlighted the divergence in investor behavior: while oil prices surged 5% and S&P futures fell 1.5%, gold increased by 0.85% as investors sought refuge in the precious metal. Simultaneously, Bitcoin experienced a 2% decline, prompting Schiff to question its status as "digital gold" on social media, emphasizing the apparent lack of resilience in the face of geopolitical uncertainty. His commentary fueled the ongoing discussion about Bitcoin's suitability as a store of value during crises.

However, this perspective isn't universally accepted within the crypto community. Countering Schiff's claims, Adam Back, CEO of Blockstream, cited historical data illustrating Bitcoin's performance following past geopolitical events. He argued that while short-term price drops are common, Bitcoin has historically rebounded strongly, often outperforming both gold and traditional stock markets in the aftermath of such crises. This counter-argument underscores the ongoing debate about the long-term viability and resilience of Bitcoin in the face of global instability, relying on analysis from internet sources rather than a single, specific website.