Iran Wants Bitcoin Payments From Oil Ships Seeking Hormuz Passage

[Swordsoffreedom]

Did the United States deliberately start the process of destroying the dollar? Maybe this is a strategy of "writing off" the national debt? Doubtful. That would be strange, to say the least.

Could you explain this more clearly? I still do not really understand

In my opinion, the USD is the backbone of American power. Because with USD, they can print money and borrow at extremely low cost, buy global goods with money they print themselves, export inflation, and control the international payment system. Or they could use it as a weapon to impose financial sanction on any country that acts against their interest. If they destroy the USD, they can eliminate the national debt, but at the same time, they will lose all that power
Conversely, I think what they are doing is to protect the USD and the petrodollar.

[TedMosby]

I hope the $1 fee applies not only during this 2-week ceasefire, but afterward as well. I see it as a positive signal for Bitcoin because Iran is now pushing big institutions to use Bitcoin. And the amount of Bitcoin that will be transacted by these institutions in the Strait of Hormuz will be huge.

• The number of tanker ships passing through the Strait of Hormuz daily is around 100–138 [1].
• According to Google Gemini, most tankers passing through the Strait of Hormuz carry between 1 million and 2 million barrels of oil.
• 1 BTC = $72,000 (10 April 2026) [2].

Let's assume 1 ship carries 1 million barrels, and 100 ships pass through the Strait of Hormuz daily. So, there will be $100M spent by these institutions to pay Iran. In Bitcoin, that would be 1,388 BTC every day. In 2 weeks, 19,444 BTC.

As a comparison, you can compare it with this list of public companies ranked by Bitcoin holdings [3]. MSTR has 766K BTC, Riot has 15K, Coinbase has 15K too, and Tesla has 11K.

Source:
[1] https://www.bbc.com/news/articles/c4geg0eeyjeo
[2] https://coinmarketcap.com/currencies/bitcoin/
[3] https://bitcointreasuries.net

[HelliumZ]

The Strait of Hormuz was reopened after the ceasefire, but it has been announced that the Strait of Hormuz will be closed again due to the Israeli aggression in Lebanon. If the Strait of Hormuz is reopened, then Iran will count the toll of ships passing through the Strait of Hormuz through Bitcoin.
However, one of the main reasons behind doing this is that Iran is currently experiencing severe inflation due to the war, where 1 USD is currently worth 1.6 million Iranian Rials, which is why Iran has now decided to accept Bitcoin payments to reduce inflation.



Current inflation rate: 72% plus
1 USD: 1.1- 1.6 Million Iranian Rials

We know that Bitcoin does not have any inflation, so if payments are made through Bitcoin through the Strait of Hormuz, then this demonstration of Iranian intelligence will truly bring about a massive change in Iran's economy.

[Oluwa-btc]

Attacking all your neighbors and then telling them that they need to pay you to ship things around their country seems like a bold move.  We'll have to wait and see how it plays out for them.  Seems to me like this is a tragic mistake that will hurt them for a long time as they damage relationships with their neighbors and become dependent on other countries for revenue.  They might just find that other countries find a better solution...

The bold move is the US government bullying and exerting aggression on smaller nations around the world when they could be a lot more diplomatic. Their neighbours allowing their lands used as base to attack them led to that, mind you, they're not directly attacking civilians, humans and infrastructures but military bases used in targeting them. The tragic mistake made here should be the US government waging an unnecessary war on Iran, dragging the world to a global recession.

[DrBeer]

A very simple question: Does the Strait of Hormuz belong to Iran!? Is there anywhere I can find information on this? If this is simply an occupation of the Strait of Hormuz, then the outcome for Iran will undoubtedly be bad. If Iran engages in acts of terrorism in international waters (which is precisely the status of the Strait of Hormuz), it will face a host of problems.

We may never find this out cause no vessel carrying billions of dollars worth of barrels will risk passing through the strait when it's not guaranteed that they would have safe passage through. I could easily see them having full control of the strait and still charging tolls when all the dust settles.

About the question that DrBeer asked, this can answer the question:

The Strait of Hormuz is not fully an international waters, it is a territorial waters governed by United Nations Convention Law of the Sea which makes countries bordering the sea not to be able to block the passage for global shipping and aircraft, but Iran and Oman still have the right for environment rules of the strait.

To make it simple, it is not an international water but governed by international law. The narrowest part of the strait between Iran and Oman is just 33 to 39 kilometers.

Thank you for your response. However, I feel it is necessary to clarify a few points:
1. Jurisdiction: The northern coast is controlled by Iran, while the southern coast is controlled by Oman and the UAE. Under the 1974 agreement, Iran and Oman share responsibility for controlling traffic in the strait.
2. The 1982 United Nations Convention on the Law of the Sea (UNCLOS). This is the primary document that introduces the concept of “transit passage” for international straits.
3. The 1958 Geneva Convention on the Territorial Sea and the Contiguous Zone
Since Iran has ratified this convention, it is legally binding for Iran.
4. Bilateral Treaty between Iran and Oman (1974)
These two countries effectively share the strait between them, as their territorial waters overlap at the narrowest point (approximately 34 km).
5. Traffic Separation Scheme (TSS)
Regulated under the auspices of the International Maritime Organization (IMO).
CONCLUSION: Iran has absolutely no right to monopolize the Strait of Hormuz or to occupy it. Are there any arguments against this?
 

[Charles-Tim]

CONCLUSION: Iran has absolutely no right to monopolize the Strait of Hormuz or to occupy it. Are there any arguments against this?

Have you been listening to what Trump has been saying before he invaded Iran? He said he does not have to listen to any intentional law, that he is going to do what comes from his mind.

Is the war in Iran not against the law? Is it backed by international law? Why did all NATO allies rejected Trump when he said they should come to open the strait with force?

These are enough to answer your questions.

United nations casted a vote about the strait but China and Russia are in support of the strait to be blocked by Iran. Two strong countries in support of it. Which means no threat from United Nation about it.

I do not just have to be in one side like many people did on this forum. I am observing both sides.

[Muba20]

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.

Bitcoin is a symbol of financial freedom. At a time when Iran is going through various sanctions by the United States, Bitcoin is providing advantage for them. Everyone is interested in this decentralized currency worldwide. No one can impose any sanctions against this currency if they want. Since Iran cannot use the dollar, Bitcoin is now the best option. If payment is made through Bitcoin in a short time, it will be accepted and the oil tankers will be released. The fact that Bitcoin is a symbol of financial freedom has now become even clearer. No one can control Bitcoin, it moves at its own pace. At this moment, no one can stop them for using Bitcoin. I think this is called freedom.

[terrific]

They are in sanction and it won't make sense if the oil tankers passing there will pay them in USD.
If they're asking for Bitcoin, good. Because the other alternate currency that they'd accept in chinese yuan.
That's much better that they haven't asked for them to get removed from the financial sanctions that have been given to them for a very long time.

[alastantiger]

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

The market might see a quick reaction and the price of Bitcoin will start to increase if this was to happen but I don't know how true this source is and I don't understand why they will decide to just want to accept payment in Bitcoin, wouldn't this be giving Bitcoin a wrong attention because people might think Bitcoin is the only way that they can receive money and not get sanctioned hence Bitcoin is an avenue for crimes to be committed without being identified.

I think they are other currencies that Iran government can ask to receive their money in and they won't get sanction instead of trying to paint Bitcoin as a currency that can be used without the US government taking control over it because that might send a wrong message to criminals and terrorist organisation and this will make Bitcoin to get into the bad picture. If Bitcoin was successfully going to be used as a currency it might increase the buying options in the market and this would make the price of Bitcoin to go up but on a long run this might not hold because I don't think this war might continue for a very long time and when that end people might decide to start selling in panic because they don't know how the market is going to react.

[abhiseshakana]

The bold move is the US government bullying and exerting aggression on smaller nations around the world when they could be a lot more diplomatic. Their neighbours allowing their lands used as base to attack them led to that, mind you, they're not directly attacking civilians, humans and infrastructures but military bases used in targeting them. The tragic mistake made here should be the US government waging an unnecessary war on Iran, dragging the world to a global recession.

I think Iranian official will controlling access of Hormuz straight by imposing fee / tolls on ship, choosing who can pass and creating scarcity which bring rising oil price. What Iran do is creating uncertainty by using Hormuz strait as political leverage and they will do it until at least all losses due to war caused by US and Israel attack are replaced.

Even though China & Rusia did not help directly by deploying troops and weapons, Iran's victory certainly received a lot of help from China and Russia, especially the use of spy satellites and i think the mastermind is China and Rusia, behind the Iranian missile's precise targeting of Israel and US strategic facilities. China is totally helping Iran so Iran will not lose, because Iran's defeat means that the unipolar system will remain standing and it will be bad for China manufacture & Industry, because they will stop enjoying cheap oil supply from Iran which mean China product price will not be competitive and will be harder facing US trade war.

Regarding Iran plan to use bitcoin as payment settlement, i think will be hard to be implemented because energy tanker and container ship  require cost certainty, time settlement, compliance to international contract and payment integration with insurance and financing , using bitcoin too complicated on regulation of each country which not permited payment using crypto, KYC will clashed with shipping and insurance company and price volatility will be the first consideration, and in the end they will avoid Hormuz strait and find another alternative route.

https://www.uscc.gov/research/china-iran-fact-sheet-short-primer-relationship
https://mei.edu/publication/25-year-iran-china-agreement-endangering-2500-years-heritage/
https://www.ourchinastory.com/en/16561/Which-countries-does-China-get-its-oil-from?%EF%BD%9CChina-Petroleum-%E2%85%A4#:~:text=There%20are%20about%20100%20oil,slightly%20less%20than%20from%20Iraq.

[noorman0]

-snip-

Let's assume 1 ship carries 1 million barrels, and 100 ships pass through the Strait of Hormuz daily. So, there will be $100M spent by these institutions to pay Iran. In Bitcoin, that would be 1,388 BTC every day. In 2 weeks, 19,444 BTC.

Given our country's macroeconomic conditions, I have to disagree. Our government heavily subsidizes various sectors, which continue to increase annually, including energy. Let's say the government has to pay $1 million per day (based on your assumptions), the cost of just one day is equivalent to eliminating subsidies for a city (based on last year's subsidy spending data and rough calculations).

[viljy]

Did the United States deliberately start the process of destroying the dollar? Maybe this is a strategy of "writing off" the national debt? Doubtful. That would be strange, to say the least.

Could you explain this more clearly? I still do not really understand

In my opinion, the USD is the backbone of American power. Because with USD, they can print money and borrow at extremely low cost, buy global goods with money they print themselves, export inflation, and control the international payment system. Or they could use it as a weapon to impose financial sanction on any country that acts against their interest. If they destroy the USD, they can eliminate the national debt, but at the same time, they will lose all that power
Conversely, I think what they are doing is to protect the USD and the petrodollar.

What if the United States is run by a group of global bankers and corporations for whom the dollar system is just a tool? The instrument is worn out (burdened with irrecoverable debts). They can simply change the instrument to a new one by introducing some new currency. After all, such experiments on the introduction of a new currency system have been conducted before. For example, SDR, or for example, bitcoin and cryptocurrencies are also an experimental currency system, or CBDC...

What if global bankers and corporations just dump the dollar system like a squeezed lemon? Because so far, actions to preserve the dollar have led directly to the opposite results. Treasuries have become toxic to central banks - they prefer to buy gold and sell treasuries. Instead of the petrodollar, the oil yuan begins to appear (the duty for passage through the Strait of Hormuz, payment for oil in yuan). That's how it looks when you look at the facts themselves.

[Somegory]

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?

I think the price of Bitcoin would go up due to an additional fixed demand. Considering the fact that $200 million USD will be collected in Hormuz fees daily (Considering 100 ships). That means $200 million USD in Bitcoin every day must be aquired by ships passing Hormuz Strait in order to pay the transit fee. That is $73 Billion USD in yearly Bitcoin purchases. Which is quite a large investment into Bitcoin.

I swear this was what I was thinking before I saw this post, it was similar to the little math I did in my head, now it seems that adoption date f Bitcoin is sealed, it's going to be more interesting from this moment onward.

This is a good news out of a bad news, I don't like the war between these countries but seeing Bitcoin becoming a solution makes me feel good today, Iran have wake up, they now understand the difference between stable coins and Bitcoin, that's a job well done.

[TedMosby]

-snip-

Let's assume 1 ship carries 1 million barrels, and 100 ships pass through the Strait of Hormuz daily. So, there will be $100M spent by these institutions to pay Iran. In Bitcoin, that would be 1,388 BTC every day. In 2 weeks, 19,444 BTC.

Given our country's macroeconomic conditions, I have to disagree. Our government heavily subsidizes various sectors, which continue to increase annually, including energy. Let's say the government has to pay $1 million per day (based on your assumptions), the cost of just one day is equivalent to eliminating subsidies for a city (based on last year's subsidy spending data and rough calculations).

Yeah, but if the majority of your country's oil imports depend on traffic through the Strait of Hormuz, then you can do nothing about it except accept the agreement. Imagine if your country reroutes the tanker traffic or tries to find new oil suppliers, I think it would affect costs and take a long time due to administration and other things related to it. Not to mention the geopolitical aspect. It may cost your country more than $1 per barrel.

BTW, I mentioned before that hundreds of tanker ships pass through the Strait of Hormuz daily. In fact, the ceasefire agreement didn't make a significant change to the traffic because many countries see the ceasefire agreement as fragile. According to the news I read, only a few tanker ships have been passing through the Strait of Hormuz since the ceasefire agreement was announced.

Just seven ships had passed through ​the strait in the past 24 hours versus about 140 normally, ship-tracking data showed.They included one oil products tanker and six dry bulk carriers, data ​from Kpler, Lloyd’s List Intelligence and Signal Ocean showed.

[AprilioMP]

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?

The positive takeaway—which serves as new information for people out there—is that Bitcoin isn’t a tool for illegal activities like money laundering and the like, but rather a means of achieving good privacy.
If the price rises to $73,000 because of news like this, the impact on the market won’t be massive, but it’s good for building momentum toward $80,000.

Recently, it appears the Strait of Hormuz has been closed again due to attacks on Lebanon. Could this be one of the 10 points Iran has put forward? I don’t know.

[PocketAurora]

  Hard to take that seriously right now even if it’s being discussed, real-world shipping fees are usually handled through established systems. If it somehow did happen, BTC would likely see short-term hype, but not a long-term structural change unless widely adopted.