There’s been another incident in the Strait of Hormuz. Iran’s Islamic Revolutionary Guard Corps says a crude oil supertanker struck a mine in the strait, marking the third tanker attack since Saturday.
What makes Hormuz so important? About one-fifth of the world’s crude oil passes through this narrow waterway, making it a true oil “chokepoint.” Three incidents in three days are clearly no coincidence—the tensions in the Middle East are escalating.
When oil supplies are under pressure, inflation expectations rise, and so does market demand for safe havens. In times like these, money usually flows to two places: gold and “digital gold” like Bitcoin.
Bitcoin is now holding above $83,000, Ethereum is just over $2,540, and SOL has climbed above $111. Major cryptocurrencies are all in the green today. The more geopolitical turmoil there is, the more convincing the “safe-haven asset” case for Bitcoin becomes.
My take is straightforward: a strait conflict of this scale is a short-term positive for crypto. That doesn’t mean war makes crypto prices rise; it means that amid the turmoil, more people will see Bitcoin as a safe-deposit box for hedging against traditional risks. As long as things remain unsettled in Hormuz, this wave of safe-haven buying could have further to run.
What makes Hormuz so important? About one-fifth of the world’s crude oil passes through this narrow waterway, making it a true oil “chokepoint.” Three incidents in three days are clearly no coincidence—the tensions in the Middle East are escalating.
When oil supplies are under pressure, inflation expectations rise, and so does market demand for safe havens. In times like these, money usually flows to two places: gold and “digital gold” like Bitcoin.
Bitcoin is now holding above $83,000, Ethereum is just over $2,540, and SOL has climbed above $111. Major cryptocurrencies are all in the green today. The more geopolitical turmoil there is, the more convincing the “safe-haven asset” case for Bitcoin becomes.
My take is straightforward: a strait conflict of this scale is a short-term positive for crypto. That doesn’t mean war makes crypto prices rise; it means that amid the turmoil, more people will see Bitcoin as a safe-deposit box for hedging against traditional risks. As long as things remain unsettled in Hormuz, this wave of safe-haven buying could have further to run.