Arthur Hayes Dismisses Iran’s Hormuz Crypto Toll, Says IRGC Might Be 'Trolling' Global Financial System

• The Maelstrom founder and chief investment officers expressed skepticism that the Iranian authorities are accepting toll payments in Bitcoin.
• His comments after a Financial Times report said that Iran may charge oil tankers $1 a barrel in Bitcoin to pass through the Strait of Hormuz.
• The system is intended to bypass sanctions and avoid financial tracking, according to the report.

Maelstrom founder and chief investment officer Arthur Hayes said the Islamic Revolutionary Guard Corps (IRGC) might be “trolling the western filthy fiat financial system” after a report said that Iran may charge $1 a barrel in Bitcoin to let oil tankers pass through the Strait of Hormuz during the two-week ceasefire.

He stated that he would only believe that Iran is accepting Bitcoin (BTC) as toll for the ships passing through the Strait of Hormuz if he can spot any transaction linked to a vessel making such a payment.

“I’ll believe Iran is charging a toll in $BTC when I see a tx linked to a vessel’s toll payment,” he wrote in  post on X. “Otherwise it’s just the IRGC trolling the western filthy fiat financial system.”

Bitcoin’s price edged 0.2% higher in the last 24 hours, holding above the $71,000 mark. Retail sentiment around the apex cryptocurrency on Stocktwits dipped to ‘neutral’ from ‘bullish’ over the past day. Chatter stayed at ‘normal’ levels.

What Is Iran’s Bitcoin-Based Toll Mechanism?

According to the Financial Times report, Iran plans to closely monitor all vessels passing through the strait during the cease-fire period to prevent the transport of weapons or prohibited goods

Hamid Hosseini,  a spokesman for Iran's Oil, Gas, and Petrochemical Products Exporters' Union, said tankers are required to email authorities with details of their cargo in advance. Once the email is cleared, officials assess the shipment and determine a toll, set at $1 per barrel of oil, while empty tankers are allowed free passage. 

Once approval is granted, vessels must make payments within seconds using Bitcoin, a method he said is intended to avoid tracking or confiscation amid ongoing international sanctions, ensuring the system remains functional despite financial restrictions.

Read also: Bitcoin ETF Bleed Continues: MSBT Fails To Reverse Flows Despite $31 Million Inflows On Debut

For updates and corrections, email newsroom[at]stocktwits[dot]com.