#比特币保持坚挺 Global stock markets are plunging across the board, while Bitcoin approaches $70,000 and stands tall!

After Trump launched a military strike against Iran over the weekend, and with Iran’s Supreme Leader Khamenei and several high-ranking officials killed, many people thought it was just another quick weekend cleanup operation.

However, war never follows politicians’ scripts. Today marks the second day of the US stock market opening, with Iranian casualties rising to 787; 6 US military personnel have been killed, and 10 Israelis. Iran’s drones attacked the US embassy in Saudi Arabia, while Israel launched ground operations in Lebanon simultaneously. Trump himself admitted that the war could last four to five weeks or even longer. The Strait of Hormuz has been declared closed, with over a dozen oil tankers hit by Iran, causing Brent crude oil to surge nearly 10% in a single week! Global stock markets are plunging on the news. The three major European indices fell more than 3%, and the three US major indices all closed lower.
In contrast, Bitcoin, after an initial panic dip, quickly rebounded and is now approaching $70,000, even slightly higher than before the conflict started~

01 Middle Eastern data centers hit, AI outages, Bitcoin remains fully operational

This war exposes the most fragile side of digital civilization.
Iran’s drones precisely targeted two AWS data centers in the UAE and a facility in Bahrain, causing power outages and equipment damage. This led to global AI services like Claude and Grok going offline on March 2. The Middle Eastern ride-hailing platform Careem shut down, payment platforms Alaan and Hubpay became inaccessible, and Abu Dhabi Commercial Bank’s mobile app experienced a complete outage. Residents in Dubai found that almost all apps on their phones stopped working. This is not a minor incident; it’s a geopolitical collapse of digital infrastructure.
Meanwhile, the Bitcoin network has never gone down even for a second. Without centralized servers or single points of failure, nodes spread across the globe give Bitcoin an inherent immunity to geopolitical conflicts. Decentralization is no longer just a slogan; it’s a survival advantage validated by war.

02 Who is the real safe-haven asset? The harsh reality of gold

Gold? Available in Dubai, but not portable.
As a major global gold trading hub, Dubai’s status in the international gold market is comparable to Shenzhen’s Shuibei. However, the Strait of Hormuz blockade and flight cancellations are disrupting supply. More importantly, gold is only free to move in and out of Dubai; once taken to other countries, it’s difficult to bring it out again. While the old saying suggests buying gold in troubled times, ancient times had no restrictions on leaving with gold.

Iranian elites turn to cryptocurrencies
Iranian elites are voting with cryptocurrencies. After the outbreak of war, Nob, Iran’s largest crypto exchange, saw a 700% surge in daily trading volume. Currently, the Iranian government is blocking the internet, with only 1% of elites able to access it. After targeted eliminations of Iranians illegally online, most of those who can access the internet are using officially issued “white SIM cards.” Therefore, this surge in on-chain crypto trading can be seen as Iranian elites voting with their actions (obedient when hit, Iran becomes a major crypto client!).

Institutional funds’ choice
Institutional funds have given the answer with real money. On March 2, the US spot Bitcoin ETF saw a net inflow of $458 million, with BlackRock’s IBIT recording a single-day net inflow of $263 million; this week, net inflows over several days totaled over $1.1 billion, ending months of net outflows.
Some call this round of capital inflow a turning point — Bitcoin is completing its transformation from a speculative asset to an institutional safe-haven asset. I tend to agree with this view, white SIM card