During widespread anti-government protests in Iran, residents have significantly increased Bitcoin withdrawals to personal wallets amidst internet blackouts. The sharp depreciation of the Iranian Rial, from 420,000 to over 1.05 million per USD, is driving demand for Bitcoin as a safe haven. Chainalysis also reported that Iran's IRGC-controlled crypto addresses received over $3 billion in on-chain assets in 2025, highlighting substantial crypto activity linked to state actors.
