Bloomberg analyst warns against overreading Bitcoin and gold debate amid Iran war

Bloomberg's right to pump the brakes on the Bitcoin-gold debate. When missiles fly, physical gold moves first. Bitcoin might pump on narrative, but gold delivers actual portfolio insurance during geopolitical chaos. Iran tensions remind us why central banks bought 1,037 tons in 2023. They're not diversifying into crypto. The flows tell the story - institutional money seeks proven stores of value during uncertainty. Gold has 5,000 years of crisis performance data. Bitcoin has 15 years of volatility. Stack both if you want, but understand which one actually hedges when systems break down.