Trump Threat to Seize Kharg Island Lifts Oil, Hits Bitcoin

President Donald Trump wrote on his social platform on Thursday that the United States would strike Iran “VERY HARD TONIGHT” and later seize Kharg Island. U.S. crude rose above $91 within minutes and bitcoin dropped below $63,000.

The post came days after U.S. forces resumed strikes on Iranian targets. Tehran has described those attacks as voiding a ceasefire and launched retaliatory strikes on U.S. bases. In the post Trump wrote: “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…”

Kharg Island loads the supertankers that carry roughly 90% of Iran’s crude exports, making it the single most exposed point in the country’s oil infrastructure, according to policy analysts.

Oil had been sliding toward $90 before jumping to about $91.75 after the post. Bitcoin fell to roughly $62,680 before stabilizing near $62,841 later in the day. Traders priced a higher geopolitical risk premium and markets experienced heightened volatility.

Iran’s Persian Gulf Strait Authority declared the Strait of Hormuz closed until further notice. U.S. Central Command reported commercial vessels continued to transit the waterway. Shipping analysts estimate visible tanker traffic has fallen to roughly 15% of pre-war levels.

Historical precedent shows attacks on Kharg have not always halted exports. During the 1980s Tanker War, Iraq repeatedly bombed Kharg but Iran rerouted shipments through Lavan and Sirri islands and maintained exports above 1.5 million barrels per day.

Tehran has proposed a bitcoin toll on tankers transiting Hormuz and is exploring other crypto channels for conflict-related finance.

Analysts warn a sustained shock to oil supplies could add inflationary pressure and tighten liquidity, with spillovers to risk assets including cryptocurrencies.

Whether the threatened strikes occur tonight may determine if the oil risk premium hardens or fades by the weekend. Traders and shipping firms are reassessing routes and exposure as officials track developments in real time.