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Iran’s Strait of Hormuz Bitcoin (BTC) Toll Reignites $1M Price Predictions
In a groundbreaking move, Iran has declared it will impose a $1-per-barrel fee on vessels transiting the Strait of Hormuz — with payment exclusively accepted in Bitcoin. This development, initially disclosed by the Financial Times, represents an unprecedented instance of a nation-state formally adopting Bitcoin for international commercial transactions. The Strait of Hormuz stands as a critical chokepoint for global energy markets. Prior to escalating tensions, approximately 20% of the world’s liquid petroleum supply moved through this narrow waterway. Washington recently established a blockade at the strait to ... (full story)
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