Iran-Based Bitcoin owners celebrates As Bitcoin Price Hits $24,000 In Iran
Bitcoin price in Iran changes as tension increases over Iran’s threat to the US for a harsh revenge. over the killing of a superior and popular Iranian military commander by the US in Baghdad.
Dealers on peer-to-peer trading platform (Iranian-based) LocalBitcoins are currently asking for around 1 billion Iranian rials or approximately more than $24,000 per Bitcoin (BTC), based on the official exchange rate from the country’s central bank.
Thus, while the “official rate” is around 42,000 IRR per 1 USD — which would result in the $24,000 price per Bitcoin — the actual rate in the street would give one something closer to BTC’s actual global market price, currently around $7,300 USD.
In view of the sharp increase in the value of Bitcoin, Galaxy Digital CEO Mike Novogratz has described BTC as a digital gold. According to him, it is great to see the BTC price react to global uncertainty. As reported by U.Today, the leading cryptocurrency surged by more than five percent just hours after the US airstrike killed Iran’s most powerful military commander Qasem Soleimani.
A reputed crypto analyst Mati Greenspan however points to the fact that the Iranian crypto market is way too small to single-handily cause such a significant price move.
Crypto is a useful means of bypassing the harsh economic sanctions imposed by the US, which allegedly prompted the restriction.
Currently, the Iranian section of the platform is up and running, and some are seemingly willing to pay a high price for purchasing BTC. The sharp increase in the price of Bitcoin in Iran is an indication of an unstoppable relevance of bitcoin in the present day business world