CNBC’s Jim Cramer on Wednesday said neither Bitcoin (CRYPTO: BTC) nor gold functioned as crisis hedges during the U.S.-Iran war, arguing he only witnessed margin calls and forced selling instead of safe-haven buying.
The Crisis Hedge Failure
“No matter what happens, we have to question whether either gold or crypto ‘worked’ in a true crisis,” Cramer stated. “All I saw were margin calls and people who should just play the prediction markets.”
The data backs Cramer’s skepticism.
Gold dropped as much as 27% from its January peak and is down roughly 12% since the Middle East conflict escalated in late February.
The yellow metal just posted its longest losing streak in over a century, lasting 10 consecutive days—its worst run since February 1920.
Meanwhile, Bitcoin is holding above $70,000, but that represents a 20% decline year-to-date despite $2.5 billion in Bitcoin ETF inflows this month.
The performance suggests neither asset provided …