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$Gold is having its worst losing streak
since 1920.
Meanwhile $BTC is up 30% vs gold
since the Iran war started.
Most people think that's weird.
📌 Here's why it makes sense:
Gold = physical, stored in vaults,
moved by central banks.
When war hits → institutions sell gold
to cover margin calls elsewhere.
$BTC = digital, self-custodied, borderless.
When war hits → can't be seized,
can't be frozen, can't be blocked.
The BTC/gold ratio rising during a war
is not an anomaly.
It is the thesis being tested in real time.
BTC has been through:
→ Iran war (Feb 2026): held $70K
→ FOMC hawkish hold: held $70K
→ $415M liquidations: held $70K
Gold had its worst week since 1920.
Is $BTC replacing gold as the war hedge?