Ethereum (CRYPTO: ETH) has outperformed the S&P 500 (NYSE:SPY) by 17% on a relative basis since the U.S.-Israeli war on Iran began in late February, with Fundstrat's Tom Lee calling crypto a better wartime store of value than gold. The Wartime Performance Ethereum has outperformed all major global market benchmarks since the Iran conflict started, including Bitcoin (CRYPTO: BTC), gold, real estate, MSCI World Energy, and Magnificent 7 tech stocks, according to Fundstrat's March research report.