War, Oil at $100, and Crypto Is... Doing Crypto Things
With Brent crude above $100 and Martin Armstrong predicting $8,800 gold, the crypto crowd is having an identity crisis about whether BTC is actually a safe haven
The US-Iran war is on day 14, Brent crude has settled above $100/barrel for two consecutive sessions, and roughly 30% of global oil supply is sitting behind an effective Hormuz blockade. Classic 'risk-off' environment. So naturally, the crypto crowd on Reddit and X is loudly disagreeing about whether $BTC is digital gold or just a leveraged risk asset wearing a gold costume.
The 'store of value' camp is pointing at Martin Armstrong's call for gold hitting $8,800 and asking why $ETH and altcoins aren't getting the same flight-to-safety love. The other camp — painfully, correctly — keeps noting that every time geopolitical chaos spikes, crypto correlates with equities on the way down before it remembers it's supposed to be uncorrelated. Meanwhile, fertilizer stocks are ripping and oil is printing generational highs.
Bitcoin's 'digital gold' thesis gets stress-tested every single crisis, and every single crisis, it hesitates — like someone who talks a big game at the bar but ghosts when it counts.