🔥Bitcoin: The "Hormuz Effect" could have a significant impact
The new proposal that #iran has to charge oil tankers a tax or fee of
#Criptomonedas for passing through the strait of
#Ormuz could create a significant source of demand for #bitcoin.
Iran has indicated that it could charge around $1 per barrel for an oil tanker passing through the strait. According to Yahoo Finance, based on volumes prior to the conflict and making a conversion, it would amount to about $20 million in
daily revenue from this toll.
Now if we want to talk in terms of Bitcoin, at current prices, this translates to about 280
$BTC a day, this compared to the 450
$BTC that the network emits daily. This
would indicate that, under this scheme, this toll could absorb 60% of the new supply of Bitcoin. If this occurs, it would mark a shift towards a structural rather than speculative demand for Bitcoin (real numbers).
Of course, all of this is hypothetical as several factors are not being considered. Most importantly, there is one factor that is not being taken into account, which is whether the Bitcoins collected by Iran will be
saved or if they will be converted to fiat immediately. If sold
immediately, this could have a negative impact.
For the moment, the toll charge for the Strait of Hormuz is just a plan, and there is no information on when it could be implemented and whether it will be in Bitcoin or some other cryptocurrency. These are just some metrics that could be considered.
Do you think that if the toll is charged in Bitcoin it could have a positive impact on the price?
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