Rial Collapse Pushes Iranians to Bitcoin, Echoes Lebanon’s Crisis
A sharp fall in the rial has prompted a wave of middle-class savers in Iran to abandon traditional banks and shift savings into domestic crypto venues, injecting billions into local markets and lifting demand for Bitcoin. Traders and exchanges report heavier OTC and P2P activity as customers seek a perceived safe haven and easier access to foreign-value assets, a pattern that recalls Lebanon’s crisis-driven adoption of crypto.
The move matters for both local stability and broader markets: higher retail demand could add price pressure for BTC locally while exposing savers to volatility and exchange risks. Authorities may face renewed pressure to regulate on-ramps, control capital flight, or tolerate informal crypto channels. For investors and policymakers alike, the episode highlights how currency crises continue to accelerate crypto adoption in underbanked but connected economies.