Iranian actors demand crypto for safe passage in Strait of Hormuz

Greek maritime risk firm MARISKS reports that unknown actors claiming to be Iranian authorities are demanding cryptocurrency fees for safe passage through the Strait of Hormuz, and the Polymarket contract for crude oil hitting $90 by June is at 61% YES.

The Strait of Hormuz handles about 20% of global oil trade. The reported crypto demands have traders watching for potential disruptions to oil flows. The crude oil market for June 30 sits at 61% YES with 71 days left to resolve, pricing in the possibility that geopolitical tension pushes oil prices higher.

This event also touches Bitcoin directly, since the alleged Iranian actors are demanding crypto rather than fiat currency. The Bitcoin market for April 18 shows 100% YES probability, though trading volume on that contract is minimal, which limits what can be read into the price.

Actual trading volume for the crude oil contracts remains thin, and the order book is shallow, meaning even modest trades could swing prices significantly. A further escalation in the Strait of Hormuz or new OPEC+ production cuts could trigger a notable move.

For traders, the question is whether these crypto demands represent a recurring pattern or a one-off incident. A YES share in the crude oil market priced at 61¢ pays $1 if oil hits $90 by June, a 1.64x return. That bet requires believing tensions will escalate beyond the current ceasefire.

Watch for US and Iranian government statements and any changes in maritime advisories. The next OPEC+ meeting could also signal oil production adjustments in response to these developments.

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