Iran's Sovereign Trade Use of Bitcoin Challenges Gold's Market Cap
Bitcoin is positioned to eventually challenge gold's $34 trillion market cap. This conclusion comes from Bitwise CIO Matt Hougan, who argues that Iran's use of Bitcoin in sovereign trade provides the same utility as gold. The shift is driven by Iran's Oil, Gas and Petrochemical Products Exporters' Union, whose spokesperson confirmed that Iran accepts Bitcoin as payment for Strait of Hormuz transit tolls. Bitcoin's role as an apolitical store of value allows it to operate outside traditional geopolitical constraints.
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