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Why Iran Wants Bitcoin For Safe Passage Though The Strait Of Hormuz
Iran is demanding that oil tankers pay a $1-per-barrel toll in Bitcoin to pass safely through the Strait of Hormuz during the current two-week ceasefire with the United States, according to a Financial Times report citing Iranian oil exporters’ union spokesman Hamid Hosseini. The move allows Tehran to monetize its control over the chokepoint — which handles 20% of global oil flows — while bypassing U.S. sanctions that block traditional payment rails. Unlike dollars, yuan or gold, Bitcoin offers neutral, censorship-resistant settlement that cannot be traced or confiscated, validating long-standing Bitcoiner predictions that it functions as sovereign money for sanctioned nations.
This post Why Iran Wants Bitcoin For Safe Passage Though The Strait Of Hormuz first appeared on Bitcoin Magazine and is written by Juan Galt. Bitcoin MagazineRead More
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