Iran's Bitcoin Toll on Strait of Hormuz: A New Trade War Move
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Show Notes
Irans Strategic Move: Bitcoin as a Toll for Ships in the Strait of Hormuz
Iran, in a bold geopolitical play, is eyeing Bitcoin as a toll for ships passing through the Strait of Hormuz, a key chokepoint for about one fifth of the worlds oil. After a recent clash with the US, Tehran is teaming up with Oman to control the route and charge fees in BTC, potentially hitting millions per tanker. Vessels receive an email assessment and must pay up in BTC to dodge sanctions and tracking issues. This move flips Irans old stance of sticking to Chinese yuan, using crypto to sidestep frozen assets and keep trade flowing amid tension. Global traders are watching closely as any snag here could spike oil prices worldwide.
On the business front, JPMorgans Jamie Dimon warns blockchain and AI are gunning for banks, while his firm pumps cash into its own tech like Kinexys. Analysts say tokenization lender Figure could double its stock value hitting one billion dollars monthly in loans, and White House economists claim banning stablecoin yields barely boosts bank lending by just zero point zero two percent. This crypto twist in the strait could redefine how nations flex in trade wars.
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