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CryptoMediumUpdated×8•Originally published 13 April 2026•Updated 14 April 2026•

1 min read

Oil Breaks $100 as U.S. Initiates Blockade of Strait of Hormuz

Golden Bitcoin coins, digital charts, and upward green arrows on an orange world map background, depicting crypto growth.

Key Facts

1Iran may require oil tankers to pay tolls in Bitcoin (BTC) for passage through the Strait of Hormuz.

about 2 months ago

Version History

4 additional sources confirmed this story

Version 8about 2 months ago

What changed: Updated Bitcoin price to reflect the break above $74,000 and added the $2.6 trillion total crypto market cap milestone along with altcoin gains.

Version 7about 2 months ago

What changed: Updated with TRM Labs' skepticism regarding on-chain evidence, Jim Rickards' speculation on XRP usage, and analyst projections on daily BTC demand shifts.

Version 6about 2 months ago

What changed: The story was updated to include HTX Research analysis linking the Hormuz crisis and U.S. Midterm elections to a shift in asset pricing models.

Version 5about 2 months ago

What changed: Updated to include the 8% surge in oil prices following the breakdown of US-Iran negotiations and Bitcoin's resilience in maintaining the $70,000 level.

Version 4about 2 months ago

What changed: Updated story to reflect the official U.S. military blockade, oil prices breaking $100, and the 350-point drop in the Dow Jones.

Version 3about 2 months ago

What changed: Added specific details regarding the toll amount ($1/barrel), statements from the Iranian oil exporters' union spokesman, and the implementation timing during the two-week ceasefire.

Version 2about 2 months ago

What changed: Updated the story to include Bitcoin hitting an intraday high of $72,629 and its recovery from a flash crash triggered by failed U.S.-Iran diplomatic talks.

Version 1about 2 months ago

What changed: Updated to include shipping industry recommendations against compliance and the explicit link to U.S. sanctions evasion.

Oil prices surged 8% past $100 per barrel following the U.S. blockade of the Strait of Hormuz, triggered by reports of crypto-based transit tolls. In a significant market shift, the total cryptocurrency market capitalization surpassed $2.6 trillion on April 14, as Bitcoin (BTC) reached a session high of $74,959. This rally occurred despite TRM Labs casting doubt on on-chain evidence of systematic payments and Jim Rickards suggesting XRP might be the asset in use. Altcoins such as Ethereum and RAVE also experienced a significant rally, contributing to the broader market surge. While the Dow Jones fell 350 points amid energy supply fears, the digital asset market remains resilient, nearing record levels. Investors are now weighing these geopolitical tensions against the massive liquidity flowing into the crypto ecosystem.