US-Iran war boosts safe-haven and currency bets, lifting Bitcoin above $75,000
Bitcoin tops $75,000 as war risk lifts “digital gold” and currency bets — Bitwise CIO
Bitcoin jumped above $75,000 and is up over 12% since the U.S.–Iran war began, beating stocks and gold. Bitwise CIO Matt Hougan says the conflict itself drove the move.
In his weekly memo, Hougan writes that investors are pricing two BTC use cases during the crisis. He says that explains the outperformance versus gold and equities in Bitwise’s note.
- “Digital gold” safe haven. Hougan calls this BTC’s current use. He pegs the store‑of‑value market at $38 trillion and says BTC could reach $1 million if it captures 17% of it according to Bitwise. The memo echoes the long‑running digital‑gold thesis outlined here.
- Global currency optionality. He frames this as an “out‑of‑the‑money call option” that pays if BTC is used more in international settlement per the memo. He cites reports that Iran accepted BTC for tolls in the Strait of Hormuz as reported here.
Hougan adds that war volatility raises the odds BTC evolves toward a global currency, making that “option” more valuable as discussed here. He says moves to accept BTC payments push an apolitical currency deeper into global finance, boosting demand in conflicts per this report.
BTC trades around $75,100 at writing, up on the day per CoinMarketCap.
