Many analysts had written off bitcoin’s “digital gold” narrative after its poor performance when compared to real, physical gold over the past year or so, but the crypto asset has held up amid the recently launched war in Iran. Those who believe in the long-term promise of bitcoin think it can develop as a neutral, apolitical store of value alongside physical gold due to its unwavering monetary policy, which was “set in stone” when the crypto network first launched back in 2009. In times of geopolitical turmoil, such as what’s going on in the Middle East right now, crypto advocates view bitcoin as a potential uncorrelated, safe-haven asset that holds its value.

So far, bitcoin has held up better than many…