Iranians are increasingly withdrawing Bitcoin from local exchanges into personal wallets as protests spread and economic conditions deteriorate. Blockchain data shows a sharp rise in self-custody activity beginning in late December, coinciding with street demonstrations and heightened political pressure across major cities.
The trend reflects growing concern over Iran’s collapsing currency. The rial has rapidly lost value, eroding purchasing power and prompting citizens to seek alternatives that can preserve wealth and remain accessible during periods of unrest. Bitcoin’s borderless nature and resistance to censorship have made it a preferred hedge during inflationary and political crises.
At the same time, crypto activity linked to state-affiliated entities has also expanded. Addresses associated with Iran’s Islamic Revolutionary Guard Corps now account for a substantial share of national crypto flows, underscoring how digital assets are being used across both civilian and institutional channels amid tightening controls and economic strain.
