Iran plans to charge passage fees in Bitcoin (BTC) from ships passing through the Strait of Hormuz during the fragile ceasefire process following a 39-day conflict with the US. According to the Financial Times, Hamid Hosseini, spokesperson for the Petroleum, Gas, and Petrochemical Products Exporters’ Union, stated that ships will pay in BTC to bypass sanctions. The Iranian Revolutionary Guards control the strait, allowing only approved ships, and fees can reach millions of dollars. This is a significant change from Iran’s previous statement that it would accept Chinese yuan. The strait carries about 20% of global crude oil flow – strengthening BTC’s geopolitical role.
Stablecoins reached a $315 billion market in the first quarter. Source: CEX.io
Strait of Hormuz BTC Payments and Market Impact
In other developments, JPMorgan CEO Jamie Dimon emphasized in his annual letter that blockchain and AI threaten traditional banking. Bernstein analysts predict that Figure Technologies’ stock could double with tokenization growth. The White House stated that banning yield-bearing stablecoins would only increase bank lending by 0.02%.
Figure (FIGR) stock performance since the beginning of the year. Source: Yahoo Finance
Critical Support and Resistance Levels for BTC
BTC price is currently at $78,328.10, up +%2.71 in 24 hours. RSI 65.68 (neutral), overall trend upward but Supertrend giving sell signal. EMA 20: $74,121.53.
- Supports:
- S1: $76,132.95 (Score: 73/100 ⭐ Strong, -%2.85 distance)
- S2: $77,678.73 (Score: 70/100 ⭐ Strong, -%0.88 distance)
- Resistances:
- R1: $78,935.48 (Score: 86/100 ⭐ Very Strong, +%0.72 distance)
- R2: $83,437.33 (Score: 63/100 ⭐ Strong, +%6.47 distance)
For more details, check BTC detailed analysis or follow BTC futures.
Frequently Asked Questions About BTC and the Strait of Hormuz
Q: Why is Iran accepting BTC?
A: To bypass sanctions and benefit from crypto volatility – strategic shift from yuan to BTC.
Q: Will BTC price be affected by Hormuz news?
A: Geopolitical demand increase could support the uptrend, R1 resistance is critical.
Q: What’s the status of stablecoins?
A: $315 billion market, growing with tokenization.
Source: https://en.coinotag.com/iran-to-charge-btc-fee-in-the-strait-of-hormuz
