Garrett Jin: The U.S. blockade of the Strait of Hormuz will affect market risk pricing of crypto assets, including bitcoin.
Foresight News reports that Garrett Jin, the agent for “1011 Insider Whale,” stated that the US government has announced a full blockade of the Strait of Hormuz by the US Navy, starting at 10:00 AM Eastern Time on April 13, prohibiting all vessels from entering or leaving Iranian ports. This measure aims to cut off Iran’s oil revenue through this energy hub and reverse its economic advantage in the ongoing conflict. Over the past six weeks, Iran has charged high fees for ships passing through the Strait of Hormuz and restricted energy exports from certain countries, resulting in significant volatility in cryptocurrency and global oil prices. The US move will impact market risk pricing for major crypto assets, including Bitcoin and Ethereum.
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