Tensions between the US and Iran caused the price of bitcoin in Iran to soar to $ 24,000

When tensions are reaching the peak between the US and Iran, on the peer-to-peer exchange P2P – LocalBitcon has appeared BTC bought for about 1 billion Iranian Rial (about $ 24,000), this is considered a high price. best ever in Iran.

On December 27, 2019, US contractor personnel were killed in the shooting of more than 30 rockets at Iraqi base near Kirkuk city.

On December 29, the US air strikes against Iranian groups, killing 24 militants in Qaim, Iraq. Two other locations in Syria were also attacked.

On December 31, the US embassy in Baghdad was surrounded by demonstrators.

At dawn on January 3, the US raided Baghdad airport, killing Commander Qasem Soleimani, Iran’s No. 2 power figure. On the same day, the US called on Iraqi citizens to “leave immediately” for fear of the consequences of the attack.

Bitcoin price skyrocketed in Iran due to tensions with the US
Currently, the BTC exchange rate in Iran compared to the global market is quite different (the current market price is about 7,350 USD). The cause is believed to be due to the US air strike that killed Iran’s Generalimimimani, causing the political situation in Iran to be increasingly chaotic, people in this country are trying to flee to Bitcoin for fear of the national currency. Their price will be devalued.

Ryan Selkis, founder of crypto analytics firm Messari, said the high price of bitcoin in Iran could come from the fact that Iranians are seeking to withdraw cash (Rial) due to fears that the war with the US will make The value of the Rial devalues, so people in Iran are forced to go to bitcoin and see bitcoin as a store of value for their assets.

On the other hand, the reported transaction volume on LocalBitcoins has bottomed out in recent months. This may be due to the Iranian government issuing restrictions on internet access nationwide since November amid nationwide protests in response to rising fuel prices.

Last month, the BTA reported that Iran was proposing a national cryptocurrency, considered one of the measures to counter US sanctions.