Bitcoin outperforms gold by roughly 36% since Iran war began

Since the start of the 2026 Iran war, Bitcoin has outpaced gold by about 35–36% on a relative basis, as the BTC/gold ratio surged.

BTC is up roughly 7–10% over the conflict period, while gold has been flat to down, a sharp reversal of the traditional “gold as safe haven” pattern.

Analysts say ETF inflows, the “digital gold” narrative, and macro positioning helped Bitcoin behave more like a risk‑sensitive alternative store of value than a classic crisis hedge.