Iran's Economic Collapse Mirrors Lebanon, Driving Citizens to Bitcoin Amid Protests
Iran's economy is experiencing a severe crisis, with the rial collapsing and hyperinflation eroding savings daily, leading to widespread protests against the government. The situation closely resembles Lebanon's 2019 economic meltdown, where banking freezes, currency devaluation, and trust loss prompted citizens to turn to Bitcoin as a safe haven. In Iran, sanctions, mismanagement, and geopolitical pressures have compounded the crisis, causing over $8 billion in crypto activity in 2025, as people move assets into cryptocurrencies to preserve value. Similar to Lebanon, Iranians are increasingly adopting Bitcoin for peer-to-peer transactions, avoiding restrictions and bank failures. The protests, fueled by the economic hardship, have resulted in over 7,000 deaths, highlighting the deep unrest. Experts note that Iranians are learning from Lebanon’s experience, using non-custodial wallets and peer networks to safeguard their assets amid systemic failures. The collapse signals a shift towards decentralized finance, with Bitcoin offering a form of control and security that traditional banking cannot provide in times of crisis.
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