For years, Dubai marketed itself as the ultimate safe haven for global wealth. This week, the war in the Middle East showed how fragile that promise can be.
The UAE is now one of the world's fastest-growing hubs for booked financial assets. $700 billion from overseas investors was held there in 2024, and Dubai alone is home to family offices controlling more than $1.2 trillion.
But when conflict hits a region, wealth suddenly becomes much harder to move.
People are now spending $300,000 just to book private jets to get home from Oman.
Gold traders in Dubai are offering bullion at steep discounts because shipments are stranded and flights are disrupted.
Real estate worth tens or hundreds of millions of dollars is permanently stuck exactly where it was built, trading at a 25% discount.
When the conflict first broke out, both the Abu Dhabi Securities Exchange and the Dubai Financial Market issued emergency two-day closures.
When the only priority becomes leaving, these assets can't move with you.
Bitcoin is different.
It trades 24 hours a day, every day, across every major exchange in the world.
There is no vault to open, no shipment to insure, no border checkpoint that can stop it.
Your entire net worth can move across the planet in minutes.
Twelve words stored in your head.
We're also seeing this dynamic play out on-chain.
As strikes began inside Iran, blockchain analytics firms recorded a 700% spike in crypto withdrawals from domestic exchanges as people rushed to move funds into self-custody.
When banking rails shut down, Bitcoin keeps working.
And in moments like this, the real question isn't whether Bitcoin's price goes up during a crisis, it's whether it keeps functioning.
This week in the Middle East, once again, it did.
