Iranians Willing to Pay Premium for Bitcoin as Fear of War Rises

Posted on Jan 4, 2020

After news broke out that a U.S. airstrike on Iraqi soil killed an Iranian top military official, the fear of war continues to spread as tensions have escalated between Iran and the US. Investors globally may be preparing for an impending financial crisis due to the feud, as the news prompted a surge in assets such as cryptocurrencies and oil. Crypto prices spiked as Bitcoin rose by 5%, together with Monero and Litecoin. Rumours within the crypto community are also circulating that Iranian citizens are eager to purchase Bitcoin amidst the current conflict, despite it now selling at a premium of 3 times its usual price on LocalBitcoins.