**News Flash: Bitcoin Prices Poised to Surge Amid Middle East Tensions**

Bitcoin could see a significant price boost if tensions in the Middle East escalate, according to Arthur Hayes, co-founder of BitMEX. In a recent blog post, Hayes suggested that a potential conflict involving Iran and Israel could spike oil and energy prices. This, in turn, would likely drive up Bitcoin's value in fiat terms, as Bitcoin is often viewed as "stored energy in digital form."

Hayes pointed to historical examples, noting that during the 1970s oil crises, commodities like gold saw massive gains. While Bitcoin hasn't been through a major oil crisis, it has shown some correlation with commodities during inflationary periods.

This week, oil prices dipped, with West Texas Intermediary falling by 3.7% to $71.09 per barrel. Meanwhile, Bitcoin surged over 8%, hitting $68,000 for the first time since July. Gold also reached an all-time high of $2,711 per ounce as investors sought safe-haven assets amid geopolitical uncertainties.

Stay tuned for more updates as the situation unfolds.