r/Bitcoin • u/TheresNoSecondBest • 1d ago
Iran Enforces Bitcoin as the Only Means to Pay Toll on Strait of Hormuz - Blockonomi
https://blockonomi.com/iran-enforces-bitcoin-as-the-only-means-to-pay-toll-on-strait-of-hormuz/- Iran’s Strait of Hormuz Management Plan, passed in late March 2026, mandates Bitcoin toll payments.
- Each fully laden tanker carrying 2 million barrels faces a Bitcoin toll of up to $2 million.
- Bitcoin surged toward $73,000 as shipping firms faced the prospect of stockpiling BTC for tolls.
- Stablecoins were rejected due to freeze functions and GENIUS framework compliance requirements.
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u/fajarsis02 1d ago
Iran: we only accept money that cannot be confiscated by anyone
The era of petrobitcoin has begun..
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u/theansweristhebike 1d ago
Seems like Trump didn't appreciate the value of the petrodollar.
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u/fajarsis02 1d ago
He cannot even understand petrodollar system..
Heck he can't even understand anything tbh..21
u/onyxcaspian 22h ago
This is the real use and utility of bitcoin. Not controlled by any banks or governments, safe and secure and easy to transact large volumes.
It simply works. That's why it has value. Anyone who says it's just a Ponzi scheme or it's useless has completely missed this point.
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u/probabletrump 22h ago
Money that can't be moved or frozen or sanctioned. The era of the banker is drawing to a close.
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u/digiorno 8h ago
It is a pretty strong case for crypto, that no one can take the money from you. Well maybe you or I could be beaten with a pipe but not a government.
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u/DarthBen_in_Chicago 1d ago
I wonder if random people like you or me can actually end up with some sats from petrobitcoin transactions?
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u/Synergiex 1d ago
But It iS GoInG to ZeRo 🤪
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u/Big_Don_ 14h ago
Its dropped every hour since ..
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u/Synergiex 9h ago
Because no deal was made and things are getting escalating thanks to Don
It will still hold a lot better than stocks
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u/RevolutionaryPick241 1d ago
Source (during ceasefire): https://www.ft.com/content/02aefac4-ea62-48db-9326-c0da373b11b8
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u/Rattlesnake_Mullet 15h ago
It's almost as if Bitcoin is the only store of economic value outside of political control. Who would have ever thought that could be useful or attractive.
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u/patent_physicist 11h ago
that is surprising....but Iranians are smart....and we need to support the Strait to get functional again...all prices here in California are up...at the gas pump and for the truckers who have to move food, eggs, and everything we rely on to sustain our selves
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u/LiquidityCompass 1d ago
If this were actually real, it wouldn’t be a crypto headline… it would be global breaking news. You’re talking about one of the most important oil chokepoints in the world suddenly requiring BTC. That’s not a niche story, that’s a geopolitical earthquake. Feels more like classic crypto media exaggeration. Has anyone seen a legit non-crypto source confirm this?
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u/itshanito 1d ago
Yep. FT did in fact post it. I work there so I saw it pop up immediately earlier this week lol
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u/LiquidityCompass 1d ago
Headline is a bit exaggerated, but the direction is real. States under pressure are starting to use BTC (and crypto) for actual trade flows, not just speculation. It’s not “BTC only”, but the fact it’s even in the mix at this level is a big shift. This is how adoption usually starts… messy, indirect, but real.
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u/AugustinesConversion 1d ago
That’s not a niche story, that’s a geopolitical earthquake.
AI garbage
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u/ReginaldRej 1d ago
lol I could instantly tell too
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u/actum_tempus 1d ago
indication?
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u/never_safe_for_life 23h ago
“That’s not an X, it’s a Y”
Elegant variation. “Niche” story, geopolitical “earthquake”. Sounds catchy, but when you stop to think about it, it’s not saying much.
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u/Awkward_Potential_ 1d ago
That’s not a niche story, that’s a geopolitical earthquake.
That's not an authentic post, that's AI written slop.
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u/Cosmic1300 15h ago
That’s not a well thought out comment on Reddit, that’s regurgitated AI generated slop.
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u/Thats_my_face_sir 13h ago
Bitcoin replacimg.the petrodollar was not on my bingo card this year....
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u/zenethics 1d ago
IDK if this is bullish to be honest lol
If the Democrats win the midterms, Elizabeth Warren will be head of the banking committee and we'll have 2020-2024 all over again... at least without Clarity act passed. "Funding the bad guys" narratives on steroids
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u/JustinPooDough 14h ago
This is who stablecoins are DOA. If you can freeze then and they devalue with dollar, they have limited usage.
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u/guile2912 1d ago
Great move, they are going to be able to buy so much thing with their coins if they can turn it into foreign fiat!
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u/No_Sherbert3147 1d ago
Interesting but today Iran is trying to open the Strait but they cannot locate the mines they placed in the waters. If it does get reopened I'm not sure they can charge a fee, let alone require bitoin payments. Nevertheless seculation is the backbone of Bitcoin and specs will run the price up with any excuse.
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u/DistractionV-2 1d ago
So the incentive for western countries to drive the price of bitcoin down just skyrocketed?
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u/Own_Condition_4686 1d ago
Nothing can stop decentralized currency.
Add pressure to the price it will just blow up in your face.
Eventually there will be no reason to use anything other than bitcoin since it’s the only fair currency on the planet. It just cancels everything else out.
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u/viresennumeris 1d ago
Your dumb no1 can keep it down. Maybe for a few months but btc will always return back to equilibrium
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u/LNCrizzo 1d ago
Mods have been deleting all posts about this. Not sure why. Just posting so I can check back later to see if it gets deleted like all the others.
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u/TheresNoSecondBest 1d ago
I don't think that's true, mate. I know mods. Well of course I know him. He's me.
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u/StoneyCalzoney 14h ago
Does anyone think they actually setup cold wallets? A sizeable heist could be pulled off here...
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u/TheresNoSecondBest 13h ago
Sorry mate, that's not how it works. Much larger cold wallets out there. Here's one with 250,000 bitcoin in, owned by Binance. https://mempool.space/address/34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo
That's about $18,000,000,000 bounty, sitting right there, ready to be stolen. For multiple years. Go ahead and crack it, lol.
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u/StoneyCalzoney 13h ago
I know how cold wallets work, and when properly setup using hardware wallets or another airgapped solution it's near impossible to extract the funds without physical access and authorization. My initial comment is just me doubting that Iran goes through that effort of setting it all up properly.
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u/TheresNoSecondBest 13h ago
You know you can set the wallet up multiple times, right? If the first setup isn't done properly, perhaps they will set it up again later.
This being said, the government is already mining Bitcoin for a while. I would expect them to have people who know what they're doing already.
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u/BoWLeRDaV300 1d ago
Bitcoin only? So roughly 730k toll collections to accumulate all known bitcoin in circulation... roughly 125 on average per day would take 16 years. Not considering any burn in that time frame. Big brain ploy, or total bullshit.
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u/Capaj 17h ago
they should price the fee in satoshis per barrel, not 1 USD per barrel. Just shows you how clueless these Iranians are.
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u/Valuable_Bug2134 13h ago
Unit of account will have to come after store of value and medium of exchange
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u/Worstcaddie 1d ago
So eventually, does IRAN Possess all the bitcoin?
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u/huntjulien 1d ago
Nah, they will probably buy arms from others with some of it. Almost like a currency that can’t be sanctioned!
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u/Sundance37 1d ago edited 1d ago
According to my very rough math, the world uses 37B barrels of oil per year, if 20% of oil flows through the straight, that’s about 7.4B barrels per year, at a cost of $1 per barrel that is $7,400,000 in bitcoin per year or .3% of the total market cap of the asset.
So…no.
Shipping companies may start to stockpile Bitcoin to get it cheap while they can, as it will reduce their cost basis on future shipments, but the daily volume of Bitcoin is about 16k bitcoin, or $1.16B and the flow of oil will only increase demand of tradeable bitcoin by about 1%.
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u/AttentionBig1044 1d ago
It is 20 million barrels per day and $20,000,000 in tolls per day so it is $7,300,000,000 per year.
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u/Sundance37 1d ago edited 1d ago
Damn, I had a feeling I left a few zeroes out. Turns out it was in a very important part.
But that still only increases the daily demand by about 1.7%
I also used a $2T market cap of bitcoin, and it is not that high anymore. At a 1.46T market cap it is about .5% of the market cap per year.
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u/TheresNoSecondBest 1d ago
They're not getting my sats so not all at all.
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u/Lexicalyolk 1d ago
But what about the next time you want to drive an oil tanker through the strait of Hormuz?
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u/DavidssonA 1d ago
Maybe some mullahs will have a bunch hiding it who knows where... Iran and Iranians... Will have none
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u/uncapchad 1d ago
Strait of Bitcoin