Reports that Iran may demand Bitcoin payments for oil transit through the Strait of Hormuz have reignited debate over crypto’s real-world role, pushing Bitcoin above $70,000 despite no verified on-chain proof.
The claims suggest tankers could be charged around $1 per barrel, with payments requested in Bitcoin or yuan during a fragile ceasefire, highlighting how digital assets may intersect with sanctions and trade routes.
“I’ll believe Iran is charging a toll in $BTC when I see a tx linked to a vessel’s toll payment,”
Said Arthur Hayes, underscoring skepticism around the narrative.
Even without confirmation, the episode has strengthened Bitcoin’s positioning as a censorship-resistant settlement tool capable of operating outside traditional systems like SWIFT.
The development has also triggered debate around XRP, with some analysts arguing it is better suited for regulated, institutional payments rather than high-risk geopolitical scenarios.
Analyst Fran de Olza said Bitcoin’s narrative is evolving toward large-scale settlement, though he suggested XRP already occupies that role within structured financial systems.
Other analysts counter that Bitcoin and XRP serve distinct purposes, with Bitcoin suited for crisis-driven use cases and XRP designed for long-term financial infrastructure, reinforcing a multichain future.
At the time of reporting, Bitcoin price was $72,305.40.