Perhaps a Taiwan conflict might stunt the growth of the crypto industry? Perhaps less of an appetite to fund a strategic reserve, perhaps people turning to Gold, perhaps people divesting from risk on assets?
I cannot imagine people fleeing from the war bringing their gold assets. While having bitcoin, it's easier for them to go wherever they are just to flee away from the war.
Or is HODL still the recommended strategy here?
100%.
No need to be too creative with our minds on how someone can keep their wealth in times like this specially the affected people there.