The Iranian rial has plunged to a record low against the dollar, sparking widespread protests in Tehran. The currency's value has dropped over 40% in just two weeks, leading to public outcry over years of ineffective fiscal policies. The official exchange rate now stands at 1.4 million rials per dollar, a stark contrast to 70 rials in the 1980s. Amid this economic turmoil, Bitcoin is gaining traction as a potential tool for wealth preservation. Bitwise CEO Hunter Horsley highlighted Bitcoin's role as a decentralized store of value, especially as the central bank governor resigns and authorities intensify crackdowns on unregistered Bitcoin mining. With ongoing sanctions and currency instability, more Iranians are turning to Bitcoin as an alternative financial refuge.
Iranian Rial Collapse Fuels Protests, Bitcoin Gains Attention as Safe Haven
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