Protests erupted in Iran’s capital after the rial fell to record lows against the US dollar, intensifying public anger over inflation and financial mismanagement. The unrest followed months of currency weakness that had eroded household purchasing power and strained confidence in the banking system.
Against this backdrop, Bitwise CEO Hunter Horsley said Bitcoin highlights an alternative store of value for individuals facing currency debasement. His comments echoed a broader view among some market participants that decentralized assets can offer protection where access to stable currencies is limited.
Iran’s financial pressures extend beyond currency markets. Sanctions have curtailed access to global banking networks, while several domestic banks face restructuring or dissolution. Although crypto trading is permitted, rules around self-custody and mining remain restrictive, limiting adoption. The situation underscores the complex intersection of macroeconomic stress, regulation, and the role of digital assets in sanctioned economies.
