Iran May Demand Bitcoin for Passage Through the Strait of Hormuz, Galaxy Research Head Analyzes Validity

Sorting Out Technical Doubts

Alex Thorn, the firm-wide research head at major US digital asset manager Galaxy, released an independent analysis report on November 11, following reports that Iran is demanding Bitcoin (BTC) as a toll for vessels passing through the Strait of Hormuz.

As reported by the Financial Times, citing a statement from a spokesperson for Iran's oil exporters union, the toll is allegedly set at the equivalent of one dollar per barrel...