{
    "id": 58206,
    "date": "2025-12-30T14:29:12",
    "date_gmt": "2025-12-30T07:29:12",
    "guid": {
        "rendered": "https:\/\/hbbgroup.net\/iranian-protests-over-currency-collapse-show-why-bitcoins-needed-bitwise-ceo\/"
    },
    "modified": "2025-12-30T14:29:12",
    "modified_gmt": "2025-12-30T07:29:12",
    "slug": "iranian-protests-over-currency-collapse-show-why-bitcoins-needed-bitwise-ceo",
    "status": "publish",
    "type": "post",
    "link": "https:\/\/hbbgroup.net\/en_us\/iranian-protests-over-currency-collapse-show-why-bitcoins-needed-bitwise-ceo\/",
    "title": {
        "rendered": "Iranian protests over currency collapse show why Bitcoin’s needed: Bitwise CEO"
    },
    "content": {
        "rendered": "<div data-testid=\"html-renderer-container\">\n<p>Protests erupted across Iran\u2019s capital of Tehran on Monday as the rial hit record lows against the US dollar, a currency collapse that locals blame on the central bank\u2019s poor fiscal policies as they watch the value of their life savings evaporate.<\/p>\n<p>While there\u2019s no single solution to the economic hardship that Iranians are facing, Bitwise CEO Hunter Horsley suggested that Bitcoin (<a href=\"http:\/\/cointelegraph.com\/bitcoin-price\">BTC<\/a>) is a way for people around the world to protect themselves from plunging currency values.<\/p>\n<p>\u201cEconomic mismanagement \u2014 The story of the past, present, and future,\u201d Bitcoin is a new way for the people to protect themselves,\u201d Horsley <a href=\"https:\/\/x.com\/HHorsley\/status\/2005740496690565345\" rel=\"noopener nofollow\" target=\"_blank\">said<\/a> in a post to X Monday.<\/p>\n<p>The rial has lost over 40% purchasing power since the two-week war with Israel in June and is now at a record low of about 1.4 million to the US dollar, the Financial Times <a href=\"https:\/\/www.ft.com\/content\/7295df7f-5e4b-4fe6-a266-7390c71412f5\" rel=\"noopener nofollow\" target=\"_blank\">noted.<\/a> Alex Gladstein, chief strategy officer for the Bitcoin-focused Human Rights Foundation, pointed out that: \u201cThe official rate in the early 1980s was **70 per dollar**.\u201d<\/p>\n<p>The Central Bank of Iran\u2019s governor, Mohammad Reza Farzin, has resigned amid the protests, adding further uncertainty to the country\u2019s future.<\/p>\n<blockquote><p>\u2014 Alex Gladstein \ud83c\udf0b \u26a1 (@gladstein) <a href=\"https:\/\/twitter.com\/gladstein\/status\/2005803698610659396?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 30, 2025<\/a><\/p><\/blockquote>\n<p>While crypto trading in Iran is permitted, rules around self-custodying crypto are less clear, and <a href=\"https:\/\/cointelegraph.com\/news\/mining-1-btc-lebanon-783x-cheaper-italy-coin-gecko\">Bitcoin mining<\/a> is heavily regulated. VanEck head of research Matthew Sigel noted that the government has been <a href=\"https:\/\/x.com\/matthew_sigel\/status\/2005765973291237560\" rel=\"noopener nofollow\" target=\"_blank\">dissuading<\/a> locals from getting involved with Bitcoin mining. <\/p>\n<p data-ct-non-breakable=\"undefined\">\u201cWorth recalling: Iran recently cracked down on unregistered Bitcoin mining, even offering cash rewards for citizens to report their neighbors, just as demand for stores of value soared.\u201d<\/p>\n<blockquote><p>\u201cTruly diabolical policy sequencing. Who says Bitcoin isn&#8217;t a luxury good?\u201d<\/p><\/blockquote>\n<p><template data-ct-widget=\"buzzsprout\" data-buzzsprout-podcast-id=\"2040516\" data-buzzsprout-episode-id=\"18304599\"><\/template><\/p>\n<p>The strict Bitcoin mining rules have held Iranians back from capitalizing on incredibly <a href=\"https:\/\/cointelegraph.com\/news\/mining-1-btc-lebanon-783x-cheaper-italy-coin-gecko\">cheap electricity prices<\/a>, which would allow them to mine Bitcoin for around $1,300 per BTC as of October \u2014 a fraction of Bitcoin\u2019s current price of $87,600.<\/p>\n<figure>    <img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-12\/019b6d68-4103-715f-8fcd-a93f0f9f04f7.png\" title><figcaption><em>Source: <\/em><a href=\"https:\/\/x.com\/mikepompeo\/status\/2005745819618619852\" rel=\"nofollow noopener\" target=\"_blank\" title=\"https:\/\/x.com\/mikepompeo\/status\/2005745819618619852\"><em>Mike Pompeo<\/em><\/a><br \/><\/figcaption><\/figure>\n<h2><strong>Eight Iranian banks at risk of dissolution<\/strong><\/h2>\n<p data-ct-non-breakable=\"undefined\">Iranians are also suffering under <a href=\"https:\/\/cointelegraph.com\/news\/iran-digital-rial-cbdc-launch?utm_source=chatgpt.com\">widespread sanctions<\/a> imposed on the theocracy for its nuclear program and for supporting terrorist groups in the region \u2014 losing significant access to international financial networks and the US dollar, and weakening the local banking sector.<\/p>\n<p data-ct-non-breakable=\"undefined\">In October, Iranian state-owned lender <a href=\"https:\/\/cointelegraph.com\/news\/iranian-bank-bankruptcy-affecting-42-million-customers\">Bank Melli fell bankrupt,<\/a> putting the assets of more than 42 million Iranians into jeopardy.<\/p>\n<p data-ct-non-breakable=\"undefined\"><em><strong>Related: <\/strong><\/em><a href=\"https:\/\/cointelegraph.com\/news\/btc-price-pauses-90k-what-will-trigger-new-year-rally\"><em><strong>Bitcoin price pauses at $90K: What will trigger new year rally?<\/strong><\/em><\/a><\/p>\n<p data-ct-non-breakable=\"undefined\">In February, Iran\u2019s central bank warned that eight other local banks risk dissolution unless they implement reforms.<\/p>\n<p data-ct-non-breakable=\"undefined\">\u201cIf they are not reformed, we will move towards dissolution and merger,\u201d Iran\u2019s central bank reportedly said at the time.<\/p>\n<p>To add insult to injury, Iranian crypto exchange Nobitex suffered an<a href=\"https:\/\/cointelegraph.com\/news\/iranian-crypto-exchange-nobitex-exploited-for-73m-zachxbt?utm_source=chatgpt.com\"> $81 million hack<\/a> in June, and <a href=\"https:\/\/cointelegraph.com\/news\/iran-crypto-flows-fall-israel-conflict-nobitex-hack?utm_source=chatgpt.com\">Iranian crypto flows fell 11%<\/a> between then and July amid a series of conflicts with Israel.<\/p>\n<p><em><strong>Magazine: <\/strong><\/em><a href=\"https:\/\/cointelegraph.com\/magazine\/big-questions-will-bitcoin-survive-10-year-power-outage\/\"><em><strong>Big Questions: Would Bitcoin survive a 10-year power outage?<\/strong><\/em><\/a><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" data-ct-non-breakable=\"undefined\" label=\"Subscription Form: Markets Outlook\"><\/template><\/div>",
        "protected": false
    },
    "excerpt": {
        "rendered": "<p>Protests erupted across Iran\u2019s capital of Tehran on Monday as the rial hit record lows against the US dollar, a [&hellip;]<\/p>",
        "protected": false
    },
    "author": 5,
    "featured_media": 58207,
    "comment_status": "open",
    "ping_status": "open",
    "sticky": false,
    "template": "",
    "format": "standard",
    "meta": {
        "_acf_changed": false,
        "footnotes": ""
    },
    "categories": [
        220
    ],
    "tags": [],
    "class_list": [
        "post-58206",
        "post",
        "type-post",
        "status-publish",
        "format-standard",
        "has-post-thumbnail",
        "hentry",
        "category-tien-dien-tu"
    ],
    "acf": [],
    "_links": {
        "self": [
            {
                "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts\/58206",
                "targetHints": {
                    "allow": [
                        "GET"
                    ]
                }
            }
        ],
        "collection": [
            {
                "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts"
            }
        ],
        "about": [
            {
                "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/types\/post"
            }
        ],
        "author": [
            {
                "embeddable": true,
                "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/users\/5"
            }
        ],
        "replies": [
            {
                "embeddable": true,
                "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/comments?post=58206"
            }
        ],
        "version-history": [
            {
                "count": 0,
                "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts\/58206\/revisions"
            }
        ],
        "wp:featuredmedia": [
            {
                "embeddable": true,
                "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/media\/58207"
            }
        ],
        "wp:attachment": [
            {
                "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/media?parent=58206"
            }
        ],
        "wp:term": [
            {
                "taxonomy": "category",
                "embeddable": true,
                "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/categories?post=58206"
            },
            {
                "taxonomy": "post_tag",
                "embeddable": true,
                "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/tags?post=58206"
            }
        ],
        "curies": [
            {
                "name": "wp",
                "href": "https:\/\/api.w.org\/{rel}",
                "templated": true
            }
        ]
    }
}