Iran Wants Bitcoin Payments From Oil Ships Seeking Hormuz Passage

[AprilioMP]

[edited out]

However, I'm not so sure if they receive payments in BTC and then exchange to privacy coins or instead of using $ as a reserve currency, switching to BTC. I think the thing that would influence the market the most is this: Bitcoin starting to be used as a reserve currency.

Please follow the updates here so you can find out whether they actually accept Bitcoin payments.
Given the awareness of those with knowledge about Bitcoin’s future, they might prefer Bitcoin as a hedge rather than using it for payments. From this perspective, countries seeking to transit the Strait of Hormuz might prefer stable cryptocurrencies with strong privacy features over Bitcoin, especially since this conflict involves China and Russia. You can assess China’s stance on Bitcoin.

[Oluwa-btc]

Donald Trump has stated that the US will begin a blockade of the Strait of Hormuz to force Iran to ditch the plan of collecting a fee of about $2m for each ship. So we are now seeing a threat to Iran accepting Bitcoin for such payment.

We might see further escalation because blocking the passage might lead to attacks, which would further increase the oil price. It is glaring that the US sees charging a fee for passage as global extortion.

Now it is obvious who he is fighting. He is not fighting iran but all the world who have decided to buy from iran rather forcefully engage in the war at the same time, this is a direct block at the Chinese lol. They world should see Donald Trump and his actions for what it is for real. I will be anticipating how China who buys from Iran respond, if they'll back off or engage the Us blocking them.

It is no longer blocked if Iran accepts fee's, there are countries willing to buy from them, Donald Trump and his Us naval fleet is the one responsible for the blockage. It is obvious, is it not?! He wants the world to buy from them and not Iran lol.

[Minor Miner]

I will be anticipating how China who buys from Iran respond, if they'll back off or engage the Us blocking them.

If any country react to the United States blocking the flow of oil from the Strait of Hormuz. I think Japan and South Korea will be among the first countries to react because they are heavily dependent on oil from the Middle East. About 90% of Japan’s oil and 70% of South Korea’s oil come from the Middle East. China only import 20-30% of its oil from this region, and they already have sufficient oil reserves for their economy.

He wants the world to buy from them and not Iran lol.

This could also have been one of his intentions when ordering a complete blockade of the Strait of Hormuz.

As we know, the United States is one of the world's largest oil producing countries.


https://www.straitstimes.com/world/united-states/empty-oil-tankers-heading-to-us-to-load-up-with-oil-gas-says-trump

[pawanjain]

Iranian officials said Bitcoin payments would ensure the tolls “can’t be traced or confiscated due to sanctions.”

• Iran plans to require oil tankers passing through the Strait of Hormuz to pay transit fees in Bitcoin.
• Officials say using Bitcoin will help avoid sanctions by making payments harder to trace or seize.
• The proposal follows a ceasefire and could raise tensions with other oil exporters over control of the Strait.

Source: https://decrypt.co/363641/iran-bitcoin-payments-oil-ships-seeking-hormuz-passage

If something like this were to happen, how do you think crypto market would be affected?

This is a masterstroke from Iran because they will be able to accumulate bitcoin as well as get away with the sanctions.
Nobody will be able to freeze the money or track it and this will give Iran a good head start.
Iran will be able to accumulate more bitcoin at cheaper rates and will be able to leverage the profits when bitcoin goes higher.
It's a win win strategy for them. No doubt bitcoin price will increase a lot in the upcoming days.