U.S. Set to Deploy Warships to Keep the Strait of Hormuz Open, Bitcoin Climbs

U.S. President Donald Trump has revealed that the U.S. plans to deploy warships alongside ‘many countries’ to keep the Strait of Hormuz open. Bitcoin climbed on the back of the president’s revelation, as this move could push oil prices lower.

Trump Says U.S. Will Deploy Warships, Bitcoin Rises

In a Truth Social post, Trump said that many countries, especially those that are affected by Iran’s attempted closure of the Hormuz Strait, will be sending warships in conjunction with the U.S. to keep the oil chokepoint open and safe.

“We have already destroyed 100% of Iran’s Military capability, but it’s easy for them to send a drone or two, drop a mine, or deliver a close range missile somewhere along, or in, this Waterway, no matter how badly defeated they are,” he added.

Bitcoin climbed to around $71,000 following Trump’s statement. However, the leading crypto has since dropped from this psychological level and is trading at around $70,000, according to TradingView data.

Trump did not mention which countries would deploy warships along the U.S. “Hopefully China, France, Japan, South Korea, the UK, and others, that are affected by this artificial constraint, will send Ships to the area so that the Hormuz Strait will no longer be a threat by a Nation that has been totally decapitated,” he said.

The move to deploy warships to keep could help stabilize the volatile oil prices, which continue to put pressure on Bitcoin and the broader crypto market. Meanwhile, Trump said that the U.S. will be “bombing the hell out of the shoreline, and continually shooting Iranian Boats and Ships out of the water” in the meantime.

As CoinGape reported earlier today, the U.S. carried out strikes on Iran’s Kharg Island. In response, Iran vowed to increase its use of upgraded weapons, which sent the crypto market lower today.

Israel and Lebanon To Hold Direct Talks

According to a Times of Israel report, Israel and Lebanon will hold direct talks in the coming days in a move to end the ongoing conflict. Talks will reportedly hold either in Paris or Cyprus and will involve the U.S. Envoy Jared Kushner.

This marks a positive for the Bitcoin price and the broader crypto market. This report comes just hours after French President Emmanuel Macron said that the Lebanese government had expressed its willingness to hold direct talks with Israel and that France was willing to assist in holding these discussions and to host parties in Paris.

“Israel must seize this opportunity, open negotiations, and bring about a ceasefire, find a sustainable solution, and enable the Lebanese authorities to fulfill their commitments for the sake of Lebanon’s sovereignty,” he said.