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International Business Times
International Business Times
Business
Merin Rebecca Thomas

Bitcoin Tops $65,000 As U.S.-Iran Hormuz Deal Sparks Rally Across Riskier Assets

Bitcoin Iran Hormuz Strategy Strait of Hormuz Crypto United States
The cryptocurrency gained alongside stocks and other risk-sensitive assets after U.S. and Iranian officials confirmed they had reached a framework agreement to end their war and reopen the strategically important waterway. (Credit: AFP)

Bitcoin climbed above $65,000 Monday, reaching its highest level in nearly two weeks as investors reacted to an agreement between the United States and Iran to reopen the Strait of Hormuz.

The cryptocurrency gained alongside stocks and other risk-sensitive assets after U.S. and Iranian officials confirmed the deal, with the preliminary expected to be formally signed in Switzerland on Friday.

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