Street protests that started in Iran in the last days of December radically changed not only political tension but also financial behavior. In the face of the rapidly depreciating Iranian rial, individuals turned to withdrawing Bitcoin directly to personal wallets to protect their wealth. While internet outages and control pressure increased, cryptocurrencies came to the fore thanks to their decentralized structure. Internal blockchain data reveals that there was a significant increase in transfers from local exchanges to personal wallets during protest days.
Trend towards Bitcoin Gained Speed During Protests
The protests, which started on December 28, 2025 and lasted until the first days of January, had their impact in many cities across Iran. The economic crisis, high inflation and the sharp decline in purchasing power led to a sudden change in the financial preferences of the people. According to internal blockchain data, there was an extraordinary increase in transfers from Iran-based cryptocurrency exchanges to personal Bitcoin wallets from the date the protests began to the internet blackout on January 8.
Blockchain intelligence company Chainalysis reported that the movement in question attracted attention, especially as it directed towards unidentified individual wallets. The company’s report emphasized that the rate of Bitcoin being held in individual custody has increased significantly compared to the pre-protest period. According to experts, uncertainty on the street and restrictions on digital access were among the main factors that led individuals to direct asset control.
The Collapse of the Rial and the Strategic Role of Cryptocurrency
The sharp depreciation of the Iranian rial stood out as one of the main driving forces behind the trend towards Bitcoin. The official exchange rate, which was around 42 against the dollar at the end of December, climbed to over 1,050 in a short time, seriously weakening the purchasing power of the national currency. Bitcoin, which has a fixed supply and offers cross-border transfer opportunities, stood out as a savings tool in such an environment.
Chainalysis stated that holding Bitcoin offers a rational method of hedging for Iranians. The ability to act outside banks or government channels provided liquidity and flexibility during periods of political pressure. The company noted that similar trends were observed in other countries experiencing war, economic crisis or management pressure.
On the other hand, the use of cryptocurrencies in Iran is not limited to individuals. According to Chainalysis data, wallets linked to the Islamic Revolutionary Guard Corps, known as the Iranian Revolutionary Guard Corps, are estimated to account for more than half of the country’s total cryptocurrency transaction value in the last quarter of 2025. It was stated that the addresses in question carried out blockchain transactions exceeding $3 billion throughout the year, and the actual figures may be higher due to wallets outside the scope of sanctions.
