Is Donald Trump Bluffing About China To Reopen the Strait of Hormuz?
Trump claims China will help reopen the Strait of Hormuz, but Beijing denies supplying arms to Iran.Summary
President Donald Trump stated on Truth Social that China has agreed to stop arming Iran and will help permanently reopen the Strait of Hormuz, predicting a positive reception from President Xi Jinping. This claim follows a US naval blockade on Iranian ports and collapsed peace talks. However, China's Foreign Ministry spokesperson Guo Jiakun called the blockade "dangerous and irresponsible" and denied allegations of weapons transfers to Iran, labeling them "groundless smears."
Bitwise analysts suggest the ongoing crisis could expand Bitcoin's role in global finance. They note Bitcoin's recent gains compared to the S&P 500 and gold, attributing this to geopolitical volatility. The potential for Iran to collect Bitcoin tolls from ships transiting the Strait of Hormuz, which handles 20-30% of global seaborne oil trade, further supports the thesis of Bitcoin's expanding currency function. Analysts believe this could lead to a significant upward revision of Bitcoin's price targets.
(Source：BeInCrypto)