Bitcoin Price Hits $30k in Iran Amid Tensions Escalation With the US

1

News about an operation of the U.S. forces at the Baghdad airport which resulted in killing one of the key people of the Iranian regime, the head of the elite Quds Force the General Qasem Soleimani. Immediately after the news bitcoin spiked by 5%.

Fears that an already tense relationship between the two countries would escalate into a war caused the increase of gold prices by 1.5% and bitcoin prices by 5% which suggests that investors are preparing for the worst that may happen.

30 morpher 351x185 - Bitcoin Price Hits $30k in Iran Amid Tensions Escalation With the USAirdrop: Morpher is Giving Away 30 USD to Launch their Trading Platform.
The project aims to build a trading platform and is supported, among others by billionaire VC fund Tim Draper.

All the world is talking about President Trump decided to take out the Iranian general Qassim Suleimani and that the move may cause the start of a war in the region.

General Qassim Suleimani was the head of the Islamic Revolutionary Guards and one of the most important military officials in the country. It is expected that Ayatollah Ali Khamenei will want to revenge his death.

Fears that the situation will escalate to a war caused U.S citizens to leave Iraq. Also, Oil prices surged by 3% because of fears that the war is near the corner.

Bitcoin is being sold at premium rates against the Iranian dinar at Localbitcoins according to some reports that circulate on Twitter. Prices are reported to reach even the equivalent of $30k which is many times higher than the actual price of $7.260 in most crypto exchanges.

The country’s economy has been in a death spiral over the last 40 years with high inflation rates. Additionally to the U.S. sanctions in the last year Iran was also removed from the SWIFT banking system making impossible for the Central Bank of Iran to work with financial institutions around the world.

In November 2019 Protests spread all over the country because of raising the fuel price and rationing it.

It seems that Iranians see in Bitcoin an option to escape their failing currency.

Share.

About Author

Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past. Also, pro-local, pro-global and anti-national.

Disclaimer: All content found on 7bitcoins.com is only for informational purposes and should not be considered as financial advice. Do your own research before making any investment. Use information at your own risk.

1 Comment

Leave A Reply

As Featured In