Post
Topic
Board Bitcoin Discussion
Re: Who is buying Bitcoin in Iran?
by
Mpamaegbu
on 04/01/2020, 18:48:47 UTC
Apparently the price has trebled on the local Bitcoins market. So is it rich people trying to preserve their wealth, or is it people using it for everyday purchases?
I go with the first premise. Demand is surely surging and here is the link to that news https://cointelegraph.com/news/bitcoin-selling-for-24-000-per-btc-in-iran-as-us-tensions-escalate

Many people see Bitcoin as a safe Haven, especially when the dollar is in doubt or in crises. If the rich don't want to stock their cash in the JPY or CHF, Bitcoin certainly provides them an alternative, especially when they know it's internet money and can be accessed from anywhere in the world. The heat is already on in Iran.. Their economy may be in shambles if they decide to go to war with the US.