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They are calling for oil to spike on monday at est market open and for bitcoin to crash.
I struggle to comprehend...
Iran is a major producer of oil, controls a vital shipping lane for crude and exports to oil-hungry nations such as China.
Iran is the third largest producer in the Organization of the Petroleum Exporting Countries.
Iran mines 2% of the global bitcoin mining.
Every btc mined in iran is obliged to be sold to the iran central bank.
Holdings are skewed but said to be worth roughly 1 billion dollars.
(Equivalent to the bitcoin perp volume on hyperliquid in 51 minutes on an average day)
14% of the population there hold btc and they use that to circumvent the plummeting local currency and to retain value and transact locally and abroad.
So shouldn't oil crash & btc stay stagnant or spike?
How does this conflict affect bitcoin in any way...
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