Bitcoin Gains as Iran Demands Crypto for Toll Payment

Bitcoin (BTC) price surges to $72.8k on reports that Iran plans to toll the Strait of Hormuz with crypto payments amidst a ceasefire with the United States.

BTC trading volume declined by 36.4% over the last 24 hours to $26 billion on Saturday, while the market capitalisation of the world’s largest digital asset stood at $1.45 trillion.

Iran is reportedly demanding cryptocurrency, including Bitcoin, as tolls from oil tankers crossing the Strait of Hormuz, and that plan is drawing heavy technical and regulatory scrutiny.

Reports say Iran is charging about $1 per barrel in crypto for Hormuz transit, with some ships asked to pay in Bitcoin within seconds after clearance.

The development…