Brazilian cryptocurrency trading platform Mercado Bitcoin's research shows that within a 60-day window after major economic or geopolitical shocks, Bitcoin's historical performance continues to outperform gold and the S&P 500 index. Specifically, within 60 days after the Trump administration announced large-scale tariffs last year, BTC rose 24%, gold increased by 8%, and the S&P 500 index went up by 4%; during the same period at the start of the COVID-19 pandemic in 2020, BTC increased by 21%. The organization also stated that under the current US-Iran conflict, BTC is the only among the three asset classes to record positive returns.