INSUBCONTINENT EXCLUSIVE:
A look back at previous conflicts shows a similar trend, with factors like adoption and institutional involvement playing a key
days following the outbreak of a conflict
longer term, geopolitical conflicts raise the prospects of higher inflation rates globally due to factors like increased fiscal spending,
country since the Iran-Iraq war in the 1980s
The two countries, arch-rivals in the Middle East, have continued strategic missile strikes against each other over the following
days.Despite concerns over wider escalation, including calls by Israel to involve the United States, markets have largely shrugged off
(The red arrow marks the start date of the conflict.) Source: TradingViewWhile the asset saw a brief drop immediately after the bombings
began, the price has largely recovered
has called advisers to situation roomPerhaps the most famous Bitcoin bull, Michael Saylor, is also unfazed
On June 16, his firm, Strategy, acquired 10,001 BTC for $1 billion
bombing (April 1, 2024)On April 1, 2024, Israel struck an Iranian embassy complex in Damascus, Syria, killing several senior officials
recovers after Israel bombed the Iranian embassy
(The red arrow marks the start date of the conflict.) Source: TradingViewAfter both dates, the price of Bitcoin saw a brief downward
movement, with BTC losing over 8% just after the April 13 retaliation.Still, as markets became accustomed to the new norm, so did Bitcoin,
and it continued moving upward.Israel-Gaza war (Oct
7, 2023, Hamas forces from Gaza struck targets inside Israel, killing over 1,000 Israelis and triggering a war and humanitarian crisis that
(The red arrow marks the start date of the conflict.) Source: TradingViewIsraeli markets saw immediate dramatic losses, while major arms
regulators to tightly regulate the space, with the US Treasury sanctioning a Gaza-based crypto operator with alleged ties to the
24, 2022)In early 2022, after eight years of war in the Donbas region of Ukraine, Russia initiated a full-scale invasion in what Moscow
Ukraine had received over $70 million in cryptocurrency donations, mostly in Ether (ETH).Bitcoin tanked later that year, but this was fueled
internal conflictsWhile crypto may serve as a risk-off asset during times of conflict in some parts of the world, its price movements appear
was characterized by the Catholic Near East Welfare Association as underreported
COVID-19 pandemic and institutional adoption by Block (then Square) and Strategy (then MicroStrategy).Later that year, just months after the
outbreak of the Tigray war, on Feb
This index includes onchain crypto and retail value received by centralized services, and onchain crypto and retail value received by DeFi
concentrated ownership among Western institutions and world governments
adoption and, therefore, exposure to traditional financial markets and institutional investment.In 2013, Bitcoin went on what some consider
It started the year at $13, crossing $100 by April and $200 by October
Source: CoinMarketCapDuring this time, crypto was still in a niche industry, and miners could use the graphics card on their gaming
computers to mine Bitcoin
which saw Bitcoin prices quickly rebound, occurred before widespread institutional adoption
This paradigm shift has seen the narrative around Bitcoin change from a risk-off to a risk-on asset
