Iran is demanding tankers pay a $1-per-barrel toll in Bitcoin for safe passage through the Strait of Hormuz during the U.S.-Iran ceasefire, according to a Financial Times report. The move lets Tehran bypass sanctions using Bitcoin’s neutral, censorship-resistant settlement.
Bitcoin price fell below $68,000 as geopolitical tensions between the U.S. and Iran, driven by President Donald Trump’s warnings, rattle global markets.
Bitcoin price edged higher Wednesday as markets responded to reports that Iran may be seeking a full end to its conflict with Israel rather than a temporary ceasefire.
Bitcoin kicked off the week with a surge above $71,000 before retracing, reflecting renewed market sensitivity to geopolitical developments between the U.S. and Iran.