Reports say Iran is considering a digital marine insurance platform for ships passing through the Persian Gulf and the Hormuz Strait, with bitcoin and other cryptocurrencies mentioned as premium payment methods. Images of a website called Hormuz Safe circulated on social media, but its authenticity and whether the plan will be implemented remain unconfirmed and the site is now inaccessible. A local outlet reported the plan could generate more than $10 billion in income.

Bitcoin rose above $79,000 at one point, its highest level in about 2 1/2 months, as expectations of easing Middle East tensions boosted appetite for risk assets. The rebound followed U.S. President Donald Trump’s decision to extend a ceasefire with Iran for two weeks while keeping a port blockade. U.S. stocks also gained. Analysts also cited central bank gold buying and a surge in China’s silver imports, while warning risks remain.