Iran's cryptocurrency ecosystem is projected to reach $7.78 billion by 2025, according to Chainalysis. This growth surpasses previous years, driven by increased Bitcoin adoption as citizens seek a safe haven amid economic instability. Iran legalized crypto mining in 2019, allowing licensed operators to use subsidized electricity and sell Bitcoin to the central bank. The country now accounts for 2% to 5% of global Bitcoin mining hashrate. The Islamic Revolutionary Guard Corps (IRGC) has significantly influenced Iran's crypto space, with addresses linked to the IRGC receiving over $3 billion in the last year, representing more than 50% of total crypto inflows. Despite the Central Bank of Iran accumulating $507 million in USDT to stabilize the rial, the currency has depreciated by over 96% against the dollar. Amidst protests and internet outages, Bitcoin withdrawals from local exchanges to personal wallets have surged, reflecting growing public reliance on cryptocurrency.
Iran's Crypto Economy Reaches $7.78 Billion Amid Bitcoin Adoption
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