When the barrels of the Ministry of Defense cool down, the furnace of BTC is burning red hot!
The suspension of military aid by the United States is essentially a manifestation of the funding dilemma in an election year. As the world sees the dollar settlement system becoming a strategic weapon, the weight of BTC as a hard currency resistant to censorship is skyrocketing — on-chain data supports this: in the past week, the number of whale addresses holding over a thousand BTC has surged by 37, reaching the highest record since the Russia-Ukraine conflict!
Looking back at the start of the war in 2022, there were real cases of Ukrainians maintaining cross-border payment channels through BTC mining. Now that the conflict has become protracted, traditional gold transportation is hindered while the penetrating nature of crypto assets has been validated in practice.
Latest data: The cryptocurrency ownership rate in Ukraine has skyrocketed by 820% in two years, this is the true battlefield financial consensus!
Comparing the safe-haven performance of gold in past wars, the current correlation between BTC and gold has surpassed 0.78 over 90 days, but the market cap ratio is only 1/36 of gold. While retail investors in WSB are still discussing gold ETFs, smart money has long since laid out in the crypto market — the end of fund outflows from grayscale GBTC is a leading indicator.
History does not lie: In January 2023, during the delay of U.S. military aid, the military industrial index LMT fell by 7.2%, while the total crypto market cap rose by 19% during the same period. This military aid freeze coincides with the dollar's interest rate cut cycle + the U.S. election gambit, traditional institutions are bound to allocate crypto assets to hedge against political risks.
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