UAE Reportedly Releases Iran’s Frozen Assets, Bitcoin Rebounds

TLDR

• The UAE reportedly released billions of dollars in frozen Iranian assets, including gold worth $200-283 million
• The funds were flown from Abu Dhabi to Iran on a Royal Jet Boeing 737 on August 11 and 12
• Oil prices fell toward $82 per barrel as tensions appeared to ease
• Bitcoin price rose 1% to near $63,900 following the oil price drop
• Neither the UAE nor the US had confirmed the reports as of August 13

Oil prices dropped on Thursday after reports said the United Arab Emirates released billions of dollars in frozen Iranian assets. The news also helped push Bitcoin higher.

The reports say the UAE unlocked funds held in Emirati banks. This includes gold worth close to $200 million to $283 million.

UAE Sends Cash and Gold to Iran

The Hormuz Letter and other sources on the social media platform X shared details of the transfer. They said Iran may spare the UAE from future attacks in exchange for the funds.

Several sources in Tehran with knowledge of the deal confirmed the claims to reporters.

The assets were flown from Abu Dhabi to Tehran and Karaj. A Boeing 737 operated by UAE Royal Jet made two trips on August 11 and 12.

Each flight lasted under an hour before heading back to the UAE.

Sources describe this as the third transfer of its kind. A Reuters report from June said the UAE had agreed to release $10 billion to $20 billion in assets.

More than $3 billion had already been delivered during the US-Iran conflict, according to that report.

The UAE Foreign Ministry denied earlier reports of any asset transfers. The ministry said no frozen Iranian funds have been released or transferred through the UAE.

US officials also denied any side deals tied to Iran’s nuclear program.

As of August 13, neither the UAE nor the US had confirmed the latest reports.

Iran may also collect funds by selling attack exemptions to Gulf states. These include Bahrain, Kuwait, Saudi Arabia, Jordan, and Qatar.

Bitcoin Price Reacts to Oil Drop

Oil prices fell toward $82 per barrel on Thursday. This ended a five day streak of gains.

Traders are hopeful that the Strait of Hormuz could reopen soon. Talks between Iran and Oman are reportedly moving forward.

The Trump administration is still weighing more pressure on Iran. Options include wider sanctions and a naval blockade.

Bitcoin price jumped 1% as oil prices dropped. The coin is trading near $63,900.

Bitcoin hit a 24 hour low of $63,267 and a high of $64,329.

Trading volume for Bitcoin rose almost 6% over the past day. This shows traders are still watching the market closely.

The rise comes as US inflation data showed a slowdown. The CPI reading fell to 3.4% for a second month in a row.

Prediction market Polymarket shows 26% odds that Bitcoin drops below $60,000 in August. The remaining 76% say it will not.

Bitcoin has fallen into what analysts call its cost of production zone. This level has often lined up with bear market bottoms in the past.

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