Why Iran Wants Bitcoin For Safe Passage Though The Strait Of Hormuz
By Juan Galt
Iran plans to charge a $1 per barrel toll in Bitcoin for oil vessels passing through the Strait of Hormuz during a two-week ceasefire, ensuring safe passage amid its control via missiles, mines, and drones. This avoids U.S. sanctions on dollars, dependency on Chinese yuan, and logistical issues with gold. The announcement propelled Bitcoin's price to $73,000, affirming its role as neutral money for international trade as predicted by Bitcoin advocates.
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