Analysis: After Iran’s epic “strengthening” of Bitcoin, an estimated 4,000 BTC will be received during the ceasefire period.

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ME News update, April 8 (UTC+8). Today, Iran has used the Strait of Hormuz to strongly empower Bitcoin, urging shipping companies to pay Bitcoin-denominated passage fees for oil tankers carrying crude through the strait during a two-week ceasefire period. The fee is $1 per barrel of oil, and empty tankers can pass for free. “Once the email is delivered and Iran completes its assessment, the vessel will be given a few seconds to make a Bitcoin payment, ensuring it cannot be tracked or seized due to sanctions.”

According to authoritative estimates from the International Energy Agency (IEA), if traffic through the Strait of Hormuz during the ceasefire returns to normal levels, about 20 million barrels of crude oil and oil products would pass each day. Iran would receive $20 million in Bitcoin for this; during the two-week ceasefire, it is expected to receive $280 million in Bitcoin, which at current prices is roughly equivalent to 4,000 BTC.

BlockBeats notes that the analysis is purely theoretical and based on normal weekday traffic. Actual figures may differ due to factors such as free passage for empty tankers, enforcement/implementation, or current geopolitical factors that could cause traffic to drop significantly. In addition, how well the Bitcoin passage-fee plan is implemented remains to be seen. (Source: BlockBeats)

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