Trump Moves Bitcoin and Oil Markets Hard With Latest Iran Threat

President Donald Trump said the United States will strike Iran “VERY HARD TONIGHT” and later seize Kharg Island, the terminal behind roughly 90% of the country’s crude oil exports.

Oil prices climbed back above $91 within minutes of the Truth Social post, while Bitcoin quickly fell below the $63,000 threshold. Meanwhile, energy traders priced a higher geopolitical risk premium across the board.

Trump Targets Kharg Island, Iran’s Oil Lifeline

Trump published the threat on Thursday, days after US forces resumed strikes on Iran. Tehran says those attacks rendered its ceasefire with Washington meaningless and has launched retaliatory strikes on US bases in the region.

“The United States will be hitting Iran… VERY HARD TONIGHT. At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela…” Trump wrote in the post.

The Venezuela comparison points to a live template. Washington has controlled Venezuelan crude sales since US forces seized Nicolas Maduro in January.

The Council on Foreign Relations reports almost 100 million barrels, worth about $8 billion, moved through US-run accounts in four months.

Kharg is a far bigger prize. The terminal loads the supertankers that carry roughly 90% of Iranian crude exports, per CFR, making it the economy’s single most exposed asset.

Iran has answered with pressure of its own. Its Persian Gulf Strait Authority declared the Strait of Hormuz closed until further notice, while US Central Command says commercial vessels continue to transit.

JPMorgan estimates visible tanker traffic has already fallen to about 15% of pre-war levels.

History also cautions against expecting a clean shutoff. Iraq bombed Kharg repeatedly during the 1980s Tanker War, yet Iran rerouted exports through Lavan and Sirri islands and kept shipping over 1.5 million barrels per day.

Bitcoin Holds Near $63,000 as Oil Snaps Back

US crude spot prices spent most of Thursday sliding toward $90 before jumping to $91.75 after the post. In contrast, BTC dipped to about $62,680 before recovering to $62,841, up 0.25% on the day, according to BeInCrypto Markets data.

The surge in volatility mirrors Trump’s earlier ceasefire announcement, when risk assets like Bitcoin and stocks as well as commodities such as oil repriced sharply.

However, analysts have cautioned that a sustained oil shock could still feed liquidity pressure on crypto through higher inflation and tighter risk appetite.

Tehran, for its part, keeps pushing conflict finance onto crypto rails, including a proposed Bitcoin toll on tankers transiting Hormuz.

Tonight’s threatened strikes materializing may determine if oil’s new risk premium hardens or fades by the weekend.