Trump Threatens to Obliterate Iran's Energy Infrastructure as Bitcoin Holds $65K
Key Takeaways
- Trump weighing seizing Iran's oil, targeting Kharg Island.
- Plans to extract Iranian uranium under consideration.
- Bitcoin holds near $65,000 as oil stays above $100.
Trump Threatens Energy Strikes
President Trump threatened to completely obliterate Iran's energy infrastructure if the Strait of Hormuz is not reopened.
Trump said the US is in serious discussions with a new, more reasonable regime.
The Strait of Hormuz has virtually been closed since Feb. 28.
Cryptocurrency Market Reacts
Bitcoin held a modest 2% daily gain, maintaining support around $65,000.
QCP Capital noted Bitcoin has outperformed gold and major equities since the Iran conflict began.
Michaël Van de Poppe described the lower end of the range as an accumulation opportunity.
Oil Prices Remain Elevated
Oil prices remained above $100 per barrel.
A Kuwaiti oil tanker caught fire after an attack Kuwait blamed on Iran.
The closed strait has caused tanker rates to hit their highest levels since 2005.
Analysts Warn of Uncertain Outlook
The Atlantic Council described the campaign as a high-risk gamble.
Congressional Democrats demanded briefings on the war's legal basis.
The cryptocurrency market showed relative resilience amid the turmoil.
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