Bitcoin Outshines Gold and S&P 500 After Major Global Crises, New Study Finds

A new analysis from Mercado Bitcoin, one of Latin America's leading cryptocurrency exchanges, reveals that Bitcoin consistently delivers stronger returns than gold and the S&P 500 in the 60 days following major global crises. The research, spearheaded by head of research Rony Szuster, tracked Bitcoin's performance across multiple economic and geopolitical shocks — and the results are hard to ignore.

When the Trump administration rolled out sweeping tariffs in April of last year, Bitcoin surged 24% over the next two months. Gold managed just 8%, and the S&P 500 climbed a modest 4%. A nearly identical trend unfolded at the height of the COVID-19 pandemic in March 2020, when Bitcoin jumped 21% while both traditional safe haven assets lagged significantly behind.

Szuster warns, however, that short-term observations can be misleading. In the immediate aftermath of a crisis, even typically stable assets tend to fall as investors rush to raise cash and cut exposure to risk. Bitcoin is no exception to that early dip — but what sets it apart, according to the study, is its recovery speed and magnitude.

That pattern appears to be playing out again amid the ongoing U.S.-Iran conflict. Since the tensions escalated, Bitcoin has climbed over 2.2%, moving from roughly $65,800 to around $67,300. Over the same period, gold has fallen approximately 11%, and the S&P 500 has shed 4.4% — its sharpest monthly decline since 2022.

Over the past decade, Bitcoin has remained the top-performing asset class despite its well-documented price swings. For investors willing to look beyond short-term volatility, the data suggests that Bitcoin's post-crisis resilience may be more than just coincidence — it could reflect a fundamental shift in how markets treat the digital asset during periods of global uncertainty.