Bitcoin outperforms S&P 500, Nasdaq, gold since the start of Iran war

Bitcoin is showing signs of a potential comeback as it outperforms other asset classes in the midst of geopolitical tensions. ProShares’ Simeon Hyman highlighted the bullish trend of bitcoin, noting its 5% gain over the past week and an 8% increase since the start of the Iran war. In comparison, traditional assets like the S&P 500 and gold have experienced losses during the same period.

ProShares, known for its cryptocurrency ETFs, recently launched the ProShares CoinDesk 20 Crypto ETF (KRYP), which has seen a 5% increase since the conflict began. Despite this positive momentum, bitcoin is still down more than 40% from its all-time high last October.

Kim Arthur, CEO of Main Management, believes bitcoin is currently in a “crypto winter” phase, typical of the cryptocurrency’s four-year cycle. He views the current situation as a bottoming stage for bitcoin, which was trading at $125,000 just five months ago. Arthur takes a passive investing approach to bitcoin, using it as a benchmark to evaluate other assets in his portfolio.

Over the past five years, bitcoin has shown significant growth, gaining about 15% in value. Despite its volatility, many investors continue to see potential in the digital currency as a long-term investment.

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