Биткоин как щит: Генеральный директор Bitwise о защите сбережений иранцев в условиях экономического кризиса Translation: Bitcoin as a Shield: Bitwise CEO on Protecting Iranian Savings Amid Economic Crisis

Protests in Iran, triggered by the collapse of the national currency, have underscored the importance of digital gold as a means to safeguard savings. This was asserted by Hunter Horsley, the CEO of Bitwise.

He attributed the situation in the country to «economic mismanagement.» According to the expert, there isn’t a single solution to overcome these challenges, but Bitcoin is undoubtedly one of the best ways for people around the globe to protect themselves from the devaluation of national currencies.

«Economic mismanagement is a story of the past, present, and future. Bitcoin offers a new way for individuals to protect themselves,» the head of Bitwise stated.

While cryptocurrency trading is permitted in Iran, the regulations regarding asset storage remain unclear.

Mining is heavily regulated, with authorities intensifying their crackdown on illegal cryptocurrency operations in the country. In November, 104 farms were shut down and 1,465 devices seized in Tehran alone.

At the beginning of December, the price of the Iranian rial plummeted to an all-time low in the history of the Islamic Republic, reaching 1.2 million rials per US dollar.

By December 28, the national currency fell further to 1.44 million rials per dollar. This triggered a sharp rise in purchasing costs for entrepreneurs, leading shop and business owners to take to the streets of Tehran. Soon, ordinary citizens joined them, voicing political slogans; the protests grew in scale and spread to other cities, as reported by Bloomberg.

Police responded forcefully to the demonstrators, using tear gas against them.

The exchange rate has recovered to approximately 1.38 million rials, but the situation remains critical.

According to media reports, the government has already convened an emergency meeting to discuss «currency, trade, and social policy.» Following this, it was announced that the head of the local Central Bank, Mohammad Reza Farzin, resigned. He was replaced by former Minister of Economy Abdolnaser Hemmati.

When Farzin took office in 2022, the rial was trading at around 430,000 to the dollar.

Bloomberg highlighted that the crisis in Iran has its roots in sanctions imposed by the U.S. Additionally, the war with Israel dealt another blow to the economy, noted the Financial Times.

As reported by the national statistical center, inflation in December surged to 42.2% year-on-year and increased by 1.8% compared to November. Food prices soared by 72%, while prices for health and medical goods rose by 50% compared to the same period last year.

Local media also reported that the government plans to increase taxes in the upcoming Iranian year (beginning March 21). This has further alarmed the citizens.

It’s worth recalling that in December 2025, Iranian authorities announced their intention to regulate cryptocurrencies to bypass sanctions.