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A new study of the Brazilian Bitcoin market found that within 60 days after major crises, Bitcoin's performance continues to outperform gold and the S&P 500 index. The study lead, Rony Szuster, pointed out that after events such as the COVID-19 outbreak in 2020 and the tariff announcement in 2023, Bitcoin rose by 21% and 24%, respectively, while returns on traditional safe-haven assets were comparatively lower. He cautioned against prematurely judging Bitcoin's performance during crises, but noted that under the current US-Iran tensions, Bitcoin has risen over 2.2% since the conflict erupted, while gold has fallen about 11%.