Key Takeaways:

• Iran’s $1 bitcoin toll per oil barrel proposal bypasses weaponized fiat, fueling a shift to apolitical rails next.
• Bitwise CIO Hougan claims the $20M hypothetical daily toll proves bitcoin will soon act as both gold and currency.
• If bitcoin captures this new dual role, Hougan calls to update his $1M, 17% market share target up for BTC.

Bitwise: Bitcoin Might Be Adopted As Currency Amidst Geopolitical Chaos

The recent events surrounding the use of bitcoin as a possible means of payment to secure passage through the Strait of Hormuz have brought the prime cryptocurrency into the geopolitical spotlight, and analysts are now examining the possible effects of this use case.

Matt Hougan, CIO of Bitwise, believes that adding…