As the rial plunges to fresh lows, Bitcoin has re-entered public debate in Iran, often cited for its decentralized properties compared with state-controlled fiat. Citizens and remittance senders are increasingly discussing crypto as an alternative store of value and cross-border payment tool.
Usage of dollar-pegged stablecoins has surged in Iran as the rial plunged to roughly 1.42 million per USD before easing to about 1.38 million, eroding household savings and pushing up essential prices.