There are a couple of numbers floating around regarding Iran’s demand for a toll on the Strait of Hormuz: $2M per ship or $1 a barrel. Let’s do the math. Pre-war data shows 20 million barrels of oil pass through Hormuz daily. At $1 per barrel, that is $20 million a day. If that is settled in crypto, likely Bitcoin since no government controls it, that is more than 270 times the daily 1 BTC buy of El Salvador. Whether it is Yuan or Bitcoin (or other crypto), the scale of this non-dollar reserve is massive. P.S. I know the math does not account for specific Yuan payments, but we also did not include all the other types of cargo ships and LNG carriers passing through, so the total revenue is likely much higher(Lark Davis)