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Iran requests oil tankers to pay the Strait of Hormuz toll with Bitcoin, expecting to receive 4,000 BTC during the ceasefire period
On April 8, Iran announced that during a two-week ceasefire, oil tankers passing through the Strait of Hormuz would pay tolls in Bitcoin, at a rate of $1 per barrel of oil. Empty tankers can pass for free. The payment process is said to be completed within seconds, aiming to evade sanctions tracking. According to estimates by the International Energy Agency, if traffic resumes to 20 million barrels per day during the ceasefire, Iran will receive $20 million worth of Bitcoin, totaling approximately $280 million over two weeks, equivalent to about 4,000 BTC at current prices. This analysis is based on theoretical calculations; actual traffic may fluctuate due to fee exemptions, enforcement, or geopolitical factors. The implementation of the Bitcoin payment scheme remains to be seen.
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