Not out of nowhere. This is where real pressure pushes real behavior. Here’s what’s actually happening and why BTC is spiking:
Iran’s fiat is imploding. The rial has collapsed massively against the dollar as inflation explodes and confidence in banks tanks. That makes saving in local cash feel like burning money.
People start looking for alternatives that don’t evaporate overnight. That alone drives demand for BTC as a store of value outside the rial.
Second, crypto isn’t just about individuals hedging anymore. State-linked networks and the IRGC have been moving huge sums (billions) through crypto channels to get around sanctions and funnel money across borders. That puts real institutional sideways pressure on Bitcoin flows tied to Iran.
Third, Iran’s cheap energy makes mining Bitcoin super profitable: electricity costs there make mining a BTC dirt cheap compared to global prices. That means more supply being created and sold on black markets or exit channels, adding to local swirl.
Finally, sanctions squeeze traditional banking hard, so crypto becomes a practical workaround for liquidity, cross-border movement, store of value, and even paying for imports or moving capital. Especially with the rial spiraling.
Summed up: hyperinflation + fiat collapse + sanctions + mining arbitrage + alternative finance needs = BTC parabolic action in Iran.