Bitcoin rises after Iran's rial hits record low

Bitcoin once again becomes the focus of global financial discussions after Iran’s rial plummeted to a record low in early January 2025. The currency weakened to approximately 1.42 million rials per USD on the black market, sparking widespread protests and causing economic disruptions across the country. Many small traders in Tehran and major cities have closed their shops, while protests escalated into clashes with security forces.

The currency crisis led to the resignation of Iran’s Central Bank Governor, Mohammad Reza Farzin, as pressure mounted on the government to stabilize prices and restore increasing public trust. Inflation exceeded 50%, while food and healthcare costs surged due to rising import prices.

In this context, many figures in the cryptocurrency industry believe that Bitcoin can serve as a store of value when the national currency rapidly depreciates. This view quickly spread online along with images of closed markets and unrest on the streets.