Iran’s Islamic Revolutionary Guard Corps announced it launched missile and drone strikes against US military bases in Kuwait and Bahrain on July 8, marking a dramatic escalation in hostilities between Tehran and Washington. The attacks targeted the Ali al-Salem Air Base in Kuwait and the US Fifth Fleet facilities at Port Salman in Bahrain, according to IRGC statements broadcast on Iranian state media.
Bitcoin responded the way it usually does when missiles start flying: it dropped fast, then bounced back almost as quickly. The price briefly dipped to around $99.5K before showing signs of recovery.
What happened on the ground
The strikes reportedly occurred between 2 and 3 a.m. local time. The IRGC framed the operation as retaliation for what it described as prior US military actions against Iranian targets, including the alleged downing of an Iranian MQ-9 drone and strikes on Iranian sites.
Iran’s damage claims varied wildly, with figures ranging from eight to as many as eighty-five Iranian facilities allegedly hit by US forces before the retaliatory strikes.
