Reports suggest Iran is considering charging cryptocurrency tolls, including Bitcoin, for passage through the Strait of Hormuz—a crucial oil route. However, experts question if these claims indicate a significant shift or are merely misinformation.
On Wednesday, The Financial Times reported that negotiations have begun for Iranian tolls at $1 per barrel, payable in crypto such as Bitcoin. Jack Mallers, CEO and founder of Strike, praised the news on X, highlighting Bitcoin’s resistance to censorship.
Moreover, BTC Map has already identified Bandar Abbas, an Iranian seaport city, as accepting Bitcoin, which attracted enthusiastic comments from users like “Would sail again.”
The Petrocoinpic.twitter.com/BXeXJAUTYN — SF Hodl (@sf_hodl)April 8, 2026
Despite this, some blockchain intelligence experts are doubtful about substantial Bitcoin transactions for Hormuz transits. Ari Redbord of TRM Labs told Decrypt there’s no evidence of crypto being used extensively for such tolls.
Redbord suspects Iran is signaling a willingness to use cryptocurrencies as payment channels, aligning with known sanctions evasion methods. Elliptic’s previous findings indicated Russia had evaded $8 billion in sanctions via cryptocurrency.
Udi Wertheimer, co-founder of Taproot Wizards and an investor in Decrypt’s parent company, Dastan, agreed, pointing out that the Financial Times’ source, Hamid Hosseini, doesn’t represent Iran officially. Instead, he is a spokesperson for the Exporters’ Union aligned with the Iranian government, which raises doubts about the authenticity of the report.
Iran has reportedly been using digital assets amid ongoing conflicts. Bloomberg noted oil tankers are transacting in Chinese yuan and stablecoins for naval escorts through the strait.
Despite these developments, maritime traffic remains limited. Sal Mercogliano from Campbell University indicated that ship movements are significantly below pre-conflict levels. On Myriad, a prediction market by Dastan, traders anticipated a 70% chance of increased transit calls to above 15 by month-end, down from a peak of 90%.