Odaily Planet Daily reports that as the Iranian Rial hits a record low against the US dollar, large-scale protests have erupted in Tehran recently. The public attributes the continuous devaluation of the local currency to long-term fiscal and monetary policy mistakes by the central bank. In response, Bitwise CEO Hunter Horsley stated on the X platform that economic mismanagement has persisted through the past, present, and future, and that Bitcoin offers ordinary people around the world a new way to protect their wealth amid significant fiat currency devaluation. The report points out that since the two-week conflict with Israel in June this year, the purchasing power of the Iranian Rial has shrunk by over 40%, with the official exchange rate now around 1 USD = 1.4 million Rials. Bitcoin Human Rights Foundation Chief Strategist Alex Gladstein also mentioned that in the early 1980s, the official exchange rate was only 70 Rials to 1 USD, highlighting the significant devaluation in comparison. Meanwhile, the Governor of Iran’s Central Bank has resigned under protest pressure, further increasing market uncertainty. Additionally, although Iran permits cryptocurrency trading, custody and mining regulations remain relatively strict. VanEck Research Director Matthew Sigel pointed out that Iran recently cracked down on unregistered Bitcoin mining activities and even encouraged citizens to report neighbors. Analysts believe that against the backdrop of sanctions, banking system pressures, and ongoing currency devaluation, discussions about Bitcoin as a decentralized store of value are on the rise. (Cointelegraph)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC 15-minute drop of 0.47%: On-chain capital outflows and insufficient order book depth resonate, amplifying selling pressure
2026-04-06 16:45 to 17:00 (UTC), BTC recorded a return of -0.47% within 15 minutes. The price fluctuation range was 69782.3-70351.7 USDT, with an overall amplitude of 0.81%. Market attention rose rapidly; trading volume expanded in the short term, volatility intensified, and investors’ risk appetite fell significantly.
The main driver of this unusual move was large outflows of on-chain funds and deep holders transferring BTC to trading platforms. Daily on-chain trading volume surged to approximately $37.4 billion, the highest in nearly 7 months. During the Americas trading session, the order book overall fl
GateNews4h ago
Bitcoin climbs above $70,000 as more contrarian bottoming signs emerge
Bitcoin's value surged past $70,000 amid a broader stock market rally, with a nearly 4% increase in 24 hours. Contrarian bulls highlight recent market signals, but uncertainty about the true bottom persists as mining companies sell off holdings.
CoinDesk4h ago
Over the past 24 hours, the entire network liquidated a total of $313 million, with short liquidations accounting for 86.6%.
According to CoinGlass data, on April 6, the total liquidation amount across the cryptocurrency market within 24 hours reached $313 million. Long positions totaled $41.9598 million, while short positions totaled $271 million, accounting for 86.6%. BTC and ETH liquidations were $158 million and $81.3885 million, respectively, for a total of 81,920 people being liquidated. The largest single liquidation was $4.1193 million on the Hyperliquid BTC-USD trading pair.
GateNews5h ago
