The investment firm said nation-states and central banks are increasingly turning to assets like Bitcoin and gold as alternative settlement systems outside of US control.
Recent moves by the Iranian government to Bitcoin for oil tolls as gold overtakes US dollar assets in global central bank reserves signals a “shift away from dollar-based systems,” according to Fidelity Digital Assets.
Tehran’s acceptance of BTC for oil shipments passing through the Strait of Hormuz represents the emergence of “alternative settlement mechanisms,” according to the company’s just-released “Six Key Trends Shaping Digital Assets in 2026” report.
Accepting Bitcoin for shipping toll payments is evidence that the biggest cryptocurrency could replace the US dollar as the global reserve currency because of its neutral, confiscation-resistant and decentralized properties, supporters of BTC say.
At the same time, central banks’ demand for gold remains “strong” despite its 20% decline from the all-time high of about $5,600 per ounce reached in January. The report said:
“Gold’s performance and continued central bank demand are broadly aligned with our initial thesis, while the anticipated follow-on outperformance from bitcoin has yet to materialize.”
Related: US law firm files motion requesting redistribution of $344M USDt linked to Iran
Iran considers an insurance model for oil ships paid in Bitcoin
In May 2025, Iranian media reported that the government of Iran was considering a maritime shipping insurance model for oil vessels crossing the Strait that would be payable in Bitcoin and “settled at the speed of blockchain.”
“Under the Economy Ministry’s plan, managing the Strait through an insurance framework would enable the issuance of various marine insurance policies as well as certificates of financial responsibility,” according to the state-run Fars News agency.
In April 2026, the Iranian government announced it would accept oil shipping tolls in Bitcoin, US dollar-pegged stablecoins and Chinese yuan.
Later that month, US authorities froze $344 million in stablecoins linked to Iran’s government and the Iranian Revolutionary Guard Corps (IRGC).
Despite the ability of US officials to freeze and confiscate stablecoins, Tether’s USDt dollar-pegged token continues to dominate oil shipping fees, according to Sam Lyman, the head of research at digital asset advocacy organization Bitcoin Policy Institute (BPI).
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