Bitwise CEO Points to Bitcoin Amid Iran’s Deepening Currency Crisis

Economic Crisis in Iran - Iran's rial has depreciated over 40% since the conflict with Israel began in June 2025, with a drop from 32,000 per dollar in 2015 to over 1.4 million, indicating a nearly 44-fold depreciation in ten years [2] - Inflation in Iran reached 42.2% in December, a rise from the previous year and an increase of 1.8% compared to November, severely impacting Iranian families [3] - Food prices surged by 72% in December 2025 compared to the previous year, while medical goods increased by 50% [3] Protests and Unrest - Protests erupted across major cities in Iran, including Tehran, Isfahan, Shiraz, and Mashhad, marking the largest demonstrations since 2022 [4] - Shops in Tehran's Grand Bazaar closed in protest against the economic situation [4] - The crisis is exacerbated by falling oil revenue due to US sanctions, issues in the banking sector, political chaos, and structural corruption, leading to the resignation of the Central Bank Governor [4] Government Response - The Iranian government has implemented measures such as food vouchers and subsidies to alleviate public frustration, but these efforts have provided limited relief amid ongoing inflation [5] - Traditional safe havens like gold have seen significant price increases, with gold coins reaching 1.7 billion rials each by December 28, more than double their value in June [5] Bitcoin as a Safe Haven - Bitcoin is being considered as a potential alternative safe haven asset alongside gold, with Bitwise CEO Hunter Horsley suggesting its role in providing protection against financial turmoil [1][6]