In a new episode of the “What Bitcoin Did” podcast, Gromen admitted that he was surprised by Bitcoin’s stability after the outbreak of the Iran conflict. According to him, geopolitical shocks normally put heavy pressure on risk assets, yet the leading cryptocurrency has instead remained resilient and at times even posted gains.
“If you had asked me two weeks ago, I probably would have expected Bitcoin to be trading around 55,000 dollars,” said the founder of FFTT.
In reality, the digital rival to gold has traded well above that level throughout March and on Friday afternoon managed to break decisively above the 73,000-dollar mark.
The expert sees one possible explanation for this strength in capital flight from the crisis region. If investors need to move wealth out of unstable states quickly, Bitcoin may serve as a practical alternative.
“If you want to get your money out of the Emirates as quickly as possible, maybe you just buy Bitcoin,” he explained.
Against this backdrop, the cryptocurrency could temporarily function as a partial safe-haven asset. That is why Gromen sees Bitcoin’s resilience during the escalation in the Middle East as an encouraging signal for the digital gold narrative.
Buy Bitcoin or wait?
Despite the positive price action, the analyst remains cautious. He had already sold a significant portion of his Bitcoin position near the 95,000-dollar area. According to him, that decision was driven by several warning signs.
Bitcoin had been showing unusual weakness despite rising money supply and over a longer period failed to demonstrate a clear advantage over gold. In addition, Gromen observed heavier selling from large long-term holders as well as technical signs of market weakness.
In his view, gold has managed to remain competitive relative to Bitcoin over the last five years.
For now, the expert does not see sufficient reasons for re-entering the market. He says the key condition for a more confident bullish scenario would be a significantly more expansionary monetary policy.
“I would need to see more aggressive money printing,” he emphasized.
In his opinion, risks linked to the rise of artificial intelligence, increasing debt burdens, and tensions in the bond market continue to keep the macroeconomic environment unstable.
A similar view was previously expressed by BitMEX co-founder Arthur Hayes. He noted that if he had to invest one dollar right now, he would not put it into Bitcoin and would instead prefer to wait.
Conclusion
Bitcoin continues to show resilience even in the face of geopolitical stress, reinforcing its growing role as a potential alternative safe-haven asset. At the same time, analysts remain cautious, noting that without clearer monetary easing and stronger macro support, the current rally may still prove fragile.
