Michael Saylor Calls Bitcoin The ‘Ultimate Hedge Against Chaos’ With BTC Beating Gold, Silver Amid Oil Shock

• All asset classes fell on Thursday morning after oil prices surged following attacks on energy infrastructure in the Persian Gulf, driving broader market volatility.
• Brent crude rose sharply due to its exposure to the Strait of Hormuz, while WTI saw more modest movement.
• On Stocktwits, retail sentiment remained ‘bullish’ for Bitcoin, while sentiment for gold and silver ETFs turned ‘extremely bearish’.

Strategy (MSTR) executive chairman Michael Saylor said on Thursday that Bitcoin (BTC) is the “ultimate hedge” in current market conditions, while the apex cryptocurrency outperformed gold and silver.

“Bitcoin is the ultimate hedge against chaos,” he wrote in a post on X. Bitcoin’s price fell 4.4% in the last 24 hours to around $69,200. Meanwhile, the iShares Silver Trust (SLV) was down nearly 12% in at market open, and the SPDR Gold Shares ETF  (GLD) was down almost 6%. Both funds were among the top trending tickers on Stocktwits. 

Retail sentiment around Bitcoin also held up better than that for GLD and SLV on Stocktwits, trending in ‘bullish’ territory. Meanwhile, retail sentiment around the SPDR Gold Shares ETF and the iShares Silver Trust was in the ‘extremely bearish’ zone.

MSTR’s stock took a hit of around 4.4% at market open on Thursday. Like Bitcoin, it also saw retail sentiment in the ‘bullish’ territory over the past day. 

Oil Surge Drives Broad Market Volatility

The drop across assets, including the equity market, came after Brent crude prices surged as high as $119 in intraday trade before paring gains to around $111 amid rising uncertainty in the Persian Gulf. Meanwhile, West Texas Intermediate (WTI) crude oil prices were down over 2% on Thursday morning. 

In the last 24 hours, an Iranian missile damaged a major LNG complex in Qatar, while debris from an intercepted strike forced a gas facility shutdown in Abu Dhabi. Drone attacks set two oil refineries in Kuwait on fire, and Saudi Arabia is assessing damage after a strike near the Red Sea. The attack in Yanbu marks the first hit on an Aramco facility in that region during the conflict.

The divide between the two oil indexes has been widening. The oil that depends more on the Strait of Hormuz, which is brent crude, saw a 10%  uptick in prices over past week. WTI, which does not pass through the Strait, saw a smaller move of 1.2%.

Read also: Bitcoin Drops Below $70,000 After Brent Oil Surges To $119 Amid Middle East Attacks

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