#中东局势升级 Gold and Bitcoin, who is the king of safe haven?

Amidst the intertwining of inflation and geopolitical risks, "how to choose safe assets" has become a topic circulating in streets and alleys. Gold, as the "big brother" that has lasted for thousands of years, sits steadily on the throne of traditional safe havens; while Bitcoin, this "digital newcomer" that raises the slogan of "decentralization," has launched a strong attack. But who is the true king of safe haven?

Inflation Resistance: Is Gold the "Hard Currency" or Is Bitcoin Still "Tested"?
When it comes to resisting inflation, gold is known for its practical experience spanning twenty years as a "veteran." Over the past two decades, regardless of rising prices, gold has always outperformed inflation steadily, as if providing your portfolio with "lifetime insurance" — your money's value may erode, but gold in your hands can always be exchanged for real gold. This stability stems from its natural scarcity and worldwide consensus, from ancient kings to modern central banks, no one doubts gold's value. As for Bitcoin, despite carrying the title of "digital gold," its performance resembles a roller coaster. In 2022, it experienced a decline of over 65%, meaning you lost 100 units of your capital to end up with only 35. Is this inflation resistance? No, it’s wealth resistance.

Volatility: One as "Heartbeat," the other as "Helicopter"
Gold's annual volatility is about 15%, roughly half of the Shanghai-Shenzhen 300 index, and it moves steadily as if sailing on a lake surface. Even during market earthquakes, its fluctuations won't wake you up in the middle of the night, making it suitable for conservative investors seeking "calmness of time." For example, if you bought gold 20 years ago and held it until now, you probably wouldn't follow the market daily, as it follows a "slow bull" trajectory. Bitcoin, on the other hand, is entirely different, with its annual volatility easily exceeding 80%, and is called the "dancing suspended in the world of money." Its price can be sky-high in one moment and plunge to the bottom in the next second. In March 2025, its volatility dropped below 58%, but it is still three times higher than gold — like riding a helicopter to see the scenery, the view is magnificent, but your heart needs endurance. Do you want to use Bitcoin as a safe haven tool? Unless you've evolved to the level of "your facial features change in front of a mountain disaster without changing."

Liquidity: One "Global," the other "Local"
How strong is gold's liquidity? Let me tell you, even in the vegetable market, the seller knows gold. Global central banks, jewelry traders, and investors are always ready to buy, with quick conversion to cash via QR code scanning. Even during economic crises, gold can quickly turn into cash to help, and it is definitely a "hard currency." As for Bitcoin, its liquidity is somewhat awkward. Although blockchain technology makes transfers easy, when selling in large quantities, you'll learn how to behave — platform outages, widening spreads, all common occurrences, as if you are a "paper millionaire," watching from afar, and achieving liquidity depends on luck.

Geopolitical Risks: Gold is the "Love of Chaos," and Bitcoin is the "Schrödinger's Problem"
As international tensions escalate, gold prices rise first, and the logic is simple and clear: if war breaks out, paper currency may vanish, but gold is always the solid truth. During the Russia-Ukraine crisis ( and ongoing international conflicts ), gold prices rose rapidly, and central banks raced to buy it, demonstrating a reputation that extends for thousands of years. As for Bitcoin, in the face of geopolitical crises, it is like a "puzzle." Some believe it can avoid government censorship and is considered a "digital refuge," while others fear that regulatory hands may fall on it, leading to sharp price drops. In 2022, after the Federal Reserve raised interest rates, Bitcoin collapsed along with the stock market, as if "disconnection" suddenly broke down. Honestly, Bitcoin has yet to prove its resilience in the furnace of war and fire.

Summary: Gold is the "cornerstone," and Bitcoin is the "lottery"
In general, gold remains the "anchor" in modern investment portfolios. Its stability, liquidity, and history make it indispensable during economic turmoil. Bitcoin, on the other hand, is more suitable for risk-tolerant investors seeking high returns — it can be considered an "alternative investment," but relying on it as the banner of safe haven may require more training and development.