Bitwise: Geopolitical conflicts are boosting Bitcoin's safe-haven qualities, with $1 million potentially becoming the benchmark price

Mars Finance News: Bitwise Asset Management points out that the recent strength of Bitcoin is not contrary to a safe-haven environment but is directly driven by geopolitical conflicts. Since the escalation of Middle Eastern tensions at the end of February, BTC has risen about 12%, while the S&P 500 index has fallen about 1%, and gold has dropped about 10%, showing a clear divergence in performance. Bitwise CIO Matt Hougan and Research Director Ryan Rasmussen stated that Bitcoin is simultaneously carrying the logic of both a “store of value asset” and a “potential international settlement currency.” As the financial system is being “weaponized” and the global payment system is fragmenting, the appeal of non-sovereign neutral assets continues to rise. The report believes that geopolitical fragmentation is driving some countries to explore alternative paths to bypass traditional financial systems, such as attempting to introduce Bitcoin settlements in trade. This trend enhances BTC’s potential position within the global monetary system. Based on these changes, Bitwise points out that Bitcoin’s valuation framework is being reshaped; if it simultaneously captures the demand for value storage and transaction settlement, long-term price expectations may be underestimated, and the $1 million target could shift from an upper limit to a “benchmark level.”