Mojtaba Khamenei, the successor to Iran's Supreme Leader, delivered a fiery first national televised address on March 12, sending shockwaves through financial markets. Bitcoin (BTC) dropped below the $70,000 threshold within minutes as investors reacted to escalating rhetoric.
Inaugural Speech: Strait of Hormuz Threatened
Speaking live on Iranian state TV, Mojtaba called for unity and urged citizens to participate in Quds Day events. He vowed revenge for a school attack and demanded “all American bases in the region must shut down immediately.” He declared “the Strait of Hormuz must remain closed” and insisted Iran would demand compensation from its enemies. The speech came days after former US President Donald Trump advised the new leader to avoid belligerence, but Mojtaba’s uncompromising tone signaled a hardline posture.
Bitcoin Sinks as Volatility Jumps
Cryptocurrencies, which had shown resilience in prior geopolitical turmoil, sold off sharply. Bitcoin fell back below $70,000 just after the broadcast. Market analysts warned that volatility could intensify as global leaders—especially Trump—prepare responses to Tehran’s escalation. The situation remains extremely fluid.
Iran’s threat to close the Strait of Hormuz—a vital chokepoint for global oil shipments—could have sweeping repercussions beyond digital currencies, potentially disrupting commodities markets and supply chains.
Geopolitics and Digital Finance in Lockstep
With deepening war rhetoric, assets tied to regional stability, including crypto, are becoming hypersensitive to political announcements. Investors are reassessing risk exposure. The international community watches for any US response, which could trigger further market swings. As Iran rallies public support, Middle East tensions are at a boiling point, and markets remain on edge.