The United States and Iran have agreed to a 60-day toll-free passage window through the Strait of Hormuz, the narrow waterway that handles roughly a fifth of the world’s daily oil supply. The deal immediately rippled through global markets, pushing Bitcoin up approximately 3% to around $66,000 while dragging WTI crude down nearly 5% to under $81 per barrel.
The agreement positions Iran’s blockchain-based maritime insurance platform, Hormuz Safe, as a potential $10 billion annual revenue engine, settled entirely in Bitcoin.
What the deal actually covers
The memorandum of understanding, announced around June 14, establishes a temporary de-escalation framework between Washington and Tehran. For 60 days, commercial vessels can transit the Strait of Hormuz without paying the tolls Iran had been imposing during the 2026 Strait of Hormuz crisis.
Those tolls had reportedly exceeded $1 million per ship, or roughly $1 per barrel of oil transiting the waterway.
