Iran Wants Hormuz Fee in Bitcoin: Will Crypto Rebound?
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Iran proposes charging up to $2M per ship to pass the Strait of Hormuz, demanding payment in Bitcoin/crypto; at BTC ≈ $71k that's ~28 BTC/ship, and with ~130 ships/day implies ~3,611 BTC/day (~108,000/month, ~1.3M/year), far above Bitcoin issuance (~450 BTC/day) — a potential major crypto adoption and supply squeeze if enforced. Market context: Bitcoin trades near $71k with near-term resistance at $74.8k; on-chain data shows price remains below short-term holder cost basis $84.8k and macro resistance $97k, so failure to clear $74.8k would limit the rally and keep market risk elevated for traders, CEX/DEX liquidity and on-chain flows.
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- Iran’s $2M per ship Bitcoin toll could drive demand of 3,611 BTC daily vs 450 BTC mined.
- BTC faces key resistance at $74.8K, and failure to break this keeps the rally short-term.
- On-chain data shows price still below $84.8K STH cost basis and $97K macro resistance.
Iran is moving to charge oil tankers up to $2 million per ship to pass through the Strait of Hormuz, with payments requested in Bitcoin or other cryptocurrencies.
Bitcoin is trading around $71,000, which means each ship would need roughly 28 BTC. Before the conflict, around 130 ships crossed the strait daily. This implies a potential demand of 3,611 BTC per day, over 108,000 BTC per month, and close to 1.3 million BTC per year.
For context, the Bitcoin network only produces about 450 BTC per day. The scale of this demand, if enforced, would exceed the daily mining supply multiple times over.
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