Ethereum (CRYPTO: ETH) has outperformed the S&P 500 (NYSE:SPY) by 17% on a relative basis since the U.S.-Israeli war on Iran began in late February, with Fundstrat’s Tom Lee calling crypto a better wartime store of value than gold.
The Wartime Performance
Ethereum has outperformed all major global market benchmarks since the Iran conflict started, including Bitcoin (CRYPTO: BTC), gold, real estate, MSCI World Energy, and Magnificent 7 tech stocks, according to Fundstrat’s March research report.
“As a wartime store of value, crypto looks a lot stronger,” said Lee, who chairs Bitmine Immersion Technologies (NYSE:BMNR) and serves as head of research at Fundstrat Global Advisors.
“Crypto has been outperforming since the war started while gold has actually underperformed,” he added.
Lee calls the trade a “money trade” for the next year …