Bitcoin Forum

Bitcoin hits $24000 in Iran after government recognizes cryptocurrency mining as an industry
Link for the news https://ambcrypto.com/bitcoin-btc-hits-24000-in-iran-after-government-recognizes-cryptocurrency-mining-as-an-industry/amp/  (https://ambcrypto.com/bitcoin-btc-hits-24000-in-iran-after-government-recognizes-cryptocurrency-mining-as-an-industry/amp/)

Check it

He is this true speculation of the cryptocurrency or simply myth in your view? I wanna know it and I am waiting to make the profit with the fund I own now. As of now I am holding around 4 BTC and 10+ Ethreum in my personal wallet.
If the value grows well in the market. I will take the bitcoin as the serious investment and convert all my tokens in bitcoin now itself.
Looking to hear from you mate. Love you to share this great news with us.

But how high was the volume? Also Iran is facing financial restrictions, so I suppose money can't easily get in or out which is why crypto prices were spiking in the first place I assume (if the story is true).

Thanks for posting the news, but unfortunately the relevance for non-locals is very low.

Since Iran is a Muslim country what is their stand on crypto and earning profits that way? Any type of investment is against the sharia law is it not?

No, mining isn't against sharia , because you do work to get money , not just an interest on your investments

I've read this news this morning and it's really heavy how the prices has gone up and break the ATH in Iran in such a short timeframe. It would be great to see such a grow in the short term in the international price for Bitcoin (and other alt/shitcoins of course). In fact, there is not needed so much money to make a big pump, we just saw it last December-January for just three "golden" weeks to trigger the multiplicator.

Damn, in the meantime I should travel to Iran to sell my Bitcoins :D and buy back when I arrive back home.

I don't think the price went up because of this news, I think it's more of a case where the fiat currency is devaluing at a fast rate making the price of btc shoot up since there's a high demand. But it's good to see that they want to embrace crypto mining...I wonder how the US feels right now, even though they've imposed sanctions, people from Iran have found a way to avoid those sanctions, really shows the power of Bitcoin.

And it's interesting to see how these countries with high inflation like Venezuela, Turkey, and Iran in this case, is where Bitcoin adoption and adoption of other cryptocurrencies is growing exponentially, whereas countries with a normal economy have the lowest crypto adoption rate.

I'm sure you're not the only person thinking of this. Surely this will help boost the overall price of Bitcoin. People are selling their coins at that price and are going to need to replace them somehow are they not? They would have to come to the international market to get them.

It's nice, but why we have it fell sharply and about Ethereum I do not say anything. I hope our market will also be such growth )

Firstly, Iran is Shia Muslim country, so their Sharia is different than the one the majority of Sunnah Muslim countries pretend to impose. Secondly, Sharia is not against any type of investment, just the ones that have fixed interests included. Thirdly, Sharia's stance on crypto is the same as stocks; it is allowed as long as it is just simple trading (buy, hold, sell)—that means, no margin trading, no binary trading, no leverage trading, etc. Although a few scholars have already jumped the gun to ban it, most others are taking the 'wait for more information and clarity to decide' approach.

I think if talking about religion here it's not beautiful bro, because of course there must be pros and some who contradict, I don't think the Iranian State is using crypto there are still many other Muslim countries that use crypto like Turkey, Egypt, and many others,I hope my answer is not offensive  :)

Interesting article you have. I think in this country because of the difficult situation, the demand will increase as in Venezuela. There, too, many people exchange their national currency for bitcoins.

is trhis really true?or just a hype for bitcoin

It has happened in Venezuela and Zimbabwe as well. You need to understand why Bitcoin is premium at those places. Its because they are in economic turmoil now.

For Iran, I see that they are using bitcoin to circumvent the trade embargo imposed to them by US and the West. So its time for them other outlet similar to what Venezuela did, having Petro coins. Also you will also wonder, why they suddenly embrace crypto and make a sudden U-turn? Initially they said that they are totally against crypto and now they are changing their tunes? So don't be fooled by the premium price right now in Iran because there's a lot of thing going on from behind, besides you can't do arbitrage here if you are thinking of ways to make money.

If the truth is true, then the possibility of coming to BTC will recover and increase strongly in the exchange rate. The rise to $ 24,000 in the Iranian market is seen by the government as an industry. And hopefully in the future cryptocurrency will be accepted as currency in all countries.

Yes, I saw it. Hope one day we see the same on Global market. That's insane indeed, 24K $ in one day. I wish I there when it happend. Would have been a millionair. Hope other country follows the same.

Yes,right after their government officially recognizes cryptocurrency people tend to move their money into it.Because their money loses value day by day.

Yes,right after their government officially recognized cryptocurrency people tend to move their money into it.Because their money loses value day by day.

It was because of the value of fiat money declining that's why people want to secure their assets and run to cryptocurrency instead. There is a global financial crisis now and as what we have seen in Venezuela, it seems that other countries are having a hard time as well dealing with their fiat currencies so for now, they can see bitcoin as a safe haven for their assets which is good for the crypto economy but then many people will still suffer from it due to inflation.


As what the news stated, it has been rising for the last three weeks so it is not just a sudden pump in price but we have yet to see then if they would be able to sustain that price and I hope that the global average would follow suit. Currently, bitcoin price crash and as of this writing it is worth around $6,500 so the price in Iran is around 300% so others who are interested in arbitrage may take this opportunity.

This may just a price anomaly or some some small order at that price. Bitcoin is trading in low $6000s on most exchanges currently and hope that the $6000 bottom holds again.

its nice story but i think volume market in iran is so liitle but its nice when country in arab adopt bitcoin and cryptocurrency,,

Is this really happens?If does then this is a good chance for the Iranians to be rich

I believe that this is not about just in news but it was planned maybe by manipulators or other elements that is familiar with the cryptocurrency community.thisis a big example how crypto can be played by this people and this is what i hate being here.

I wish i learn this earlier so i can fly to iran to get richer lol

I think $24000 is too much to be considered in this time period when the market is really down to the bottom.

Most probably big players manipulated the Iran crypto market to make big $$$.

This is not an indicator for such a country, in a day it can be at the level of 2k. Whenever there is a big recession everywhere, no one will rush at him, realizing that this is a manipulation of the government.

I believe the government of Iran has taken the right step towards developing cryptography. Bitcoin for today is the best investment for saving your money.

The government of Iran made the right decision in relation to the development of mining and cryptography. The price of BTC immediately grew, so people trust bitcoin.

I think that the big traders in Iran have turned to the BTC because of the US sanctions on them
Iran's currency has fallen sharply due to sanctions
So in the case of the presence of gold, going to the BTC is the best solution

I want this happen in indonesia too, if this happen maybe all over the world market going to star,,but yesterday 25 percent of my invest lost in hours

Under the oppression of the United States, the all-out war has approached the Iranian people, and all Iranians have bought bitcoin. This is not a good thing, I don't want the war to break out. But the US approach is indeed very selfish.

I I'm from Iran  and i just registered to reply to this Stupid topic!!!

Bitcoin didn't hits 24000$ in Iran or any other place.!! if you do some a little search you find that The Iranian Rial has lost about 300 % of its value to a dollar as US sanction.

In January i could buy 1 Dollar with 50000 Rial but today it cost More than 140000$. so its all related to the falling of Iranian rial not rise in  the price of bitcoin in iran. today i can buy bitcoin 6500$ in Iran.
its bad situation in Iran and Iranian people are so miserable.








Arab!!!!  GUY! Iran is a Persian country!

We have little meaning in this.Even if you enter funds, you will not receive them.And markets with small volumes strongly drive prices.

interesting news I think that this is some kind of false news because Bitcoin costs 6400 at the moment. It is necessary to recheck everything

You should be digging more information. Read the comments on this article and it will wake you up.
https://news.bitcoin.com/bitcoin-hits-24000-in-iran-after-government-okays-mining/

---

There is the same thread in economics section about this, and it seems to me that this is making some hype that perhaps a misleading news. It might be good if it's really can bring more investors by this though it's doubtful to think to have different price in other country.

https://bitcointalk.org/index.php?topic=5017699.msg45267088#msg45267088

Exactly. People of these countries are using Bitcoin to buy the things they need from neighboring countries and they are resorting to Bitcoin because either their local money is not accepted abroad or they have no real value at all just like what is happening in Venezuela right now. In the case of Iran, maybe some are also into speculations that is why this sudden rise of the Bitcoin price not anymore reflective of the realities in the bigger market. We can sell Bitcoin in Iran but the problem is that we could not use or bring the money out because of the embargo implemented by the international community though it can be slowly easing now. In this week's gloomy Bitcoin world, news like this can be like an inspiration.

I wouldn't take bitcoin news from a site that explicitly pushes its agenda against everything that is bitcoin, to begin with. The situation is, someone clearly missed up calculating bitcoin price as USD to IRR ratio was averaging at around 42,520 before the sanctions make it plummet to north of 111,000+ (around x2.61 downward, maybe even more, officially speaking, not street prices). Bitcoin price in Iran is the same as everywhere else, ranging between $6,300–$6,500 (271,000,000+ Iranian Rial before the sanctions, 813,000,000+ after!).