Cryptocurrencies have stood out as winners among asset classes since the outbreak of the war with Iran, but the resilience of digital assets may be a matter of timing.
Bitcoin, the largest token, and a cohort of smaller digital assets have been an oasis of calm relative to the volatility in equities, gold and oil. As crude oil has surged more than 40%, bullion is down roughly 5% for the month and the MSCI World Index is down 4%. Meanwhile, Bitcoin pushed through a crucial psychological mark of $75,000 on Tuesday in Asia, taking its gains since the war started at the end of February to nearly 14%.
