이란이 호르무즈 해협 위기 속에서 선박 보험에 비트코인을 사용하는 이유: 상세 분석

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Iran has unveiled a controversial plan to use Bitcoin to insure shipping through the Strait of Hormuz, a move that underscores both the country’s desperation amid war-driven isolation and its growing reliance on cryptocurrency.

The initiative, dubbed “Hormuz Safe,” comes as the conflict enters its third month, with oil prices stuck above $100 and global trade routes severely disrupted, Business Insider said in a report.

A bold but risky experiment

Iran’s semi-official Fars News Agency reported that the Ministry of Economy and Financial Affairs has launched a shipping insurance service backed by Bitcoin.

The program promises “cryptographically verifiable insurance policies” for vessels transiting the Persian Gulf and the Strait of Hormuz, with payments settled in Bitcoin.

Officials claim the scheme could generate as much as $10 billion in revenue, though details on implementation remain vague.

The idea was first floated by Iranian business magnate Babak Zanjani, who promoted it on social media earlier in May.

Zanjani, a controversial figure accused of embezzling billions from Iran’s oil ministry, has long advocated for alternative financial mechanisms to bypass sanctions.

Context: war and sanctions

The plan comes against the backdrop of a grinding war between the US and Iran that has left the Strait of Hormuz—through which about one-fifth of global oil and gas supply normally flows—largely closed.

The closure has driven Brent crude above $100 per barrel and disrupted shipments of fertiliser, helium, and petrochemicals.

President Donald Trump’s administration has so far failed to secure a peace deal, with negotiations stalling despite attempts to pressure Tehran.

Both Washington and Tehran continue to block passage through the Strait, leaving global shipping companies in limbo.

Bitcoin’s rising role in Iran

Iran’s pivot to Bitcoin is not entirely surprising. According to CoinShares, cryptocurrency adoption has surged during the conflict.

Roughly 14 million Iranians—about one in six—use Bitcoin, with annual transaction volumes growing nearly 12% year-on-year and now representing about 2.2% of GDP.

Analyst Chris Bendiksen noted that Bitcoin’s appeal lies in its ability to bypass traditional financial systems and sanctions.

For Iran, it offers a way to monetize shipping insurance without relying on banks or dollar-denominated transactions.

Feasibility and risks

Despite the bold claims, experts remain skeptical. Traffic through the Strait of Hormuz is still at a near-standstill, meaning few ships are available to insure.

Even if vessels were willing to participate, the risk of violating US sanctions by engaging with Iranian-backed systems could deter global shipping companies.

Moreover, the volatility of Bitcoin itself raises questions.

Insurance contracts typically require stability and predictability, qualities not associated with a cryptocurrency that can swing by double-digit percentages in a single day.

Wider implications

Iran’s experiment highlights a broader trend: the use of digital assets by sanctioned states to circumvent restrictions.

While the initiative may not succeed in attracting international shipping firms, it signals Tehran’s intent to integrate cryptocurrency into its economic survival strategy.

For global markets, the move adds another layer of uncertainty.

Oil prices remain elevated, shipping routes disrupted, and now the world’s most sensitive energy chokepoint is tied to a volatile digital currency.

Outlook

Whether “Hormuz Safe” becomes a viable insurance mechanism or collapses under logistical and legal hurdles, it reflects Iran’s determination to find unconventional solutions amid isolation.

As the war drags on, the country’s reliance on Bitcoin is likely to deepen, even if the global shipping industry remains wary.

For now, the Strait of Hormuz remains closed, oil prices remain high, and Iran’s gamble on cryptocurrency underscores the desperation—and innovation—of a nation under siege.
source: https://www.tradingview.com/news/invezz:b5f403bbd094b:0-explained-why-iran-is-using-bitcoin-to-insure-ships-amid-hormuz-crisis/