Bank of America strategist Francisco Blanch warns that escalating US-Iran tensions could push Brent crude oil prices above $200 per barrel, primarily due to supply disruption risks in the Strait of Hormuz. Surging oil prices would exacerbate inflation, delay rate cuts, and tighten market liquidity. While this would create short-term pressure on risk assets like cryptocurrencies, long-term economic instability could enhance Bitcoin's appeal as a store of value, especially given its recent outperformance compared to traditional hedges like gold.