According to James Butterfill, head of research at CoinShares, Bitcoin has risen approximately 6-6.5% since the Iran-Israel conflict erupted, contrasting sharply with gold's gains of 1-1.5% and declines in stock markets. He noted that Bitcoin's performance underscores its role as a non-sovereign, censorship-resistant asset during geopolitical tensions, a time when investors are withdrawing from U.S. Treasuries. Despite continued outflows from digital asset funds, net inflows have persisted for three consecutive weeks, with new capital of $500 million added this week, indicating that institutional investors are maintaining their Bitcoin holdings during turbulent periods.