Iranian Seller demand on the regional peer-to-peer trading platform LocalBitcoins 1 million Iranian rials per Bitcoin (BTC), which is equivalent to $ 24,000 per BTC, above the record high so far. The reason for this is probably the increasing tensions between Tehran and Washington.
Lowest Bitcoin selling prices in Iran. Source: LocalBitcoins
Iranian Bitcoin price skyrockets
Compared to the current Bitcoin price of $ 7,350, this means a breathtaking premium for buying the cryptocurrency in Iran. The trigger for the supposed panic is a airstrike to Baghdad Airport, ordered by US President Trump and killing the leader of the Iranian Quds Brigades.
Like Cointelegraph earlier today reported has resulted in both an increase in oil prices and an increase in the Bitcoin price.
Ryan Selkis, founder of Messari crypto market research institute, explainedthat the high premium on the Iranian Bitcoin exchange rate is probably due to the fact that parts of the population want to flee the Iranian national currency, especially in view of the impending war with the USA. So he writes:
“Bitcoin is currently at just under $ 24,000 in Iranian rials on LocalBitcoins. It is unlikely that these money movements will be used to finance an Iranian counterattack, but rather that it is probably parts of the Iranian population who want to escape the impending chaos. “
Iran with conflicting crypto policies
However, trading volumes on Iran’s LocalBitcoins had bottomed out in recent months. However, this is probably due to the fact that the Iranian government only since November restricted access granted to the Internet after it was last violent in the country protests had given because of rising gasoline costs.
Weekly Bitcoin trading volume in Iranian rials on LocalBitcoins. Source: Coin.dance
Like NBC News reported, the Iranian government is out for revenge after the US airstrike, which would further exacerbate the situation.
Cointelegraph already had last month reportedthat Iran has proposed an Islamic cryptocurrency to address US economic dominance.
“The Islamic world should consider measures to break away from the dominance of the US dollar and the American financial system,” as President Hassan Rouhani said.
Nevertheless, the Iranian government continues to reject cryptocurrencies. So the domestic regulators recently rewards advertised for information disclosure on illegal crypto mining.
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