JPMorgan Chase: Bitcoin outperformed gold during the Iran war, exhibiting characteristics of a safe-haven asset.

CoinFeed reported on March 27th, citing The Block, that JPMorgan analysts stated that Bitcoin outperformed gold and silver during the Iran-Iraq War, showing signs of capital inflows and increased activity, while precious metals experienced significant capital outflows and position liquidations. Analysts pointed out that gold ETFs saw outflows of nearly $11 billion in the first three weeks of March, and silver ETFs had completely reversed their inflows since last summer, while Bitcoin saw net inflows during the same period, demonstrating its strong performance relative to traditional safe-haven assets. Analysts stated that after the outbreak of the war, crypto activity in Iran surged, with local residents transferring funds from domestic exchanges to self-custodial wallets and international platforms. Bitcoin's borderless nature, self-custodial capabilities, and 24-hour trading make it a preferred tool for capital flows during periods of economic instability, monetary pressure, and capital controls.