Bitcoin Withdrawals Surge as Protests Shake Iran

[cryptobro]

Iran has seen a sharp rise in cryptocurrency usage as mass protests spread across the country amid worsening economic conditions. According to a new report from Chainalysis, Iranians increasingly turned to crypto after the national currency collapsed to record lows against the U.S. dollar, triggering demonstrations and government-imposed internet shutdowns.

The data shows a notable spike in Bitcoin withdrawals from local exchanges into private wallets, signaling a move toward self-custody. Chainalysis described this behavior as a rational response to currency collapse, noting that the Iranian rial has become effectively worthless against major global currencies, pushing citizens to preserve value outside the traditional financial system.

[mendez]

ppl joke about “digital gold” but when currencies actually collapse it suddenly makes sense