Iran closes Strait of Hormuz as US tensions escalate, Bitcoin-backed insurance enters the picture

Iran has closed the Strait of Hormuz as tensions with the US escalate, potentially triggering global economic instability and energy supply shocks. This action heightens energy market volatility and alters LNG market dynamics, intensifying US LNG competition. The closure increases geopolitical tensions and economic risks, leading to the emergence of Bitcoin-backed insurance. These developments threaten to disrupt global energy supplies and create significant volatility across international markets due to the ongoing Middle East conflict.