Research conducted by Mercado Bitcoin showed that Bitcoin’s performance outperformed both gold and the S&P 500 index during the 60-day periods following major global disruptions.

After Trump announced tariffs in 2025, Bitcoin’s price rose by 24% compared with gold’s rise of 8% and the S&P 500 index’s rise of 4%
Amid ongoing tensions between the United States and Iran, Bitcoin’s price rose by 2.2%, while gold’s price fell by 11% and the S&P 500 index declined by 4.4%.
U.S. spot Bitcoin exchange-traded funds attracted $1.32 billion in March, sharply contrasting with withdrawals of $2.92 billion from gold exchange-traded funds.
Analyst James Severt expects Bitcoin exchange-traded funds to eventually surpass gold exchange-traded funds in total assets.
Research conducted by the Brazilian cryptocurrency platform “Mercado Bitcoin” revealed that Bitcoin consistently delivers stronger performance than gold and the S&P 500 index during the two-month periods following major global disruptions.
The analysis was led by Roni Szester, Research Director at Mercado Bitcoin. His research team studied performance periods lasting 60 days after various economic shocks and geopolitical conflicts, including events such as the emergence of the COVID-19 pandemic and the escalation of U.S. trade policy.

After the Trump administration imposed comprehensive tariffs in April 2025, Bitcoin saw a notable increase of 24% over the next 60 days. In contrast, gold rose by 8%, while the S&P 500 index rose by only 4% during the same period.

This performance pattern appeared similarly at the beginning of the COVID-19 crisis in March 2020. Bitcoin posted gains of 21%, significantly outperforming both gold and the S&P 500 index.

Schuster warned against rushing to assess Bitcoin’s response to the crisis, saying: “It’s like watching the first few minutes of a movie and believing you already know how the story will end.”