Bitcoin (CRYPTO: BTC) has been outperforming equities during the Iran conflict as ETF managers declared the “crypto winter” is bottoming.
The Outperformance During Iran Conflict
Bitcoin has risen 10% while equities are down during the Iran conflict, demonstrating diversification benefits.
“So far in this conflict, actually, if you look at Bitcoin, it’s up a little bit and equities are down,” Hyman said on CNBC’s ‘ETF Edge’.
“The diversifying piece, I think, still stays intact as an important theme here,” he added.
Hyman challenged the narrative that cryptocurrencies are simply risk assets.
His research shows Bitcoin, Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), and XRP (CRYPTO: XRP) have minimal correlation with equities and equally low correlation with gold and silver.
This means crypto moves independently from both traditional risk assets and safe havens, supporting the diversification case even …