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CryptoMediumUpdated×3•Originally published 26 March 2026•Updated 27 March 2026•
1 min read

JPMorgan: Bitcoin Outperforms Gold as Safe Haven Amid Geopolitical Tensions

Key Facts

1JPMorgan analysts stated that Bitcoin has performed better than gold and silver during the Iran conflict.
2The bank observed signs of inflows and rising activity on the Bitcoin network despite geopolitical tensions.
3This behavior contrasts with the observed weakness in traditional precious metals that typically serve as safe havens.

In a report released on March 26, a JPMorgan analysis team led by Nikolaos Panigirtzoglou reported that Bitcoin is exhibiting distinct safe-haven characteristics during the ongoing conflict involving Iran. The data shows that gold ETFs experienced net outflows of $11 billion in the first three weeks of March, significantly underperforming compared to digital assets. Analysts attributed the recent weakness in gold and silver to widespread profit-taking and deteriorating liquidity conditions in traditional markets. Conversely, the report highlighted significant signs of capital inflows and increased activity on the Bitcoin network despite heightened geopolitical risks. This trend suggests a potential shift in investor behavior, with digital assets increasingly utilized as a hedge against global uncertainty. Panigirtzoglou’s team believes this performance reinforces the narrative of Bitcoin as "digital gold" and a viable alternative to traditional safe-haven assets.