There is no day in the Middle East so that no new crisis will begin. Tensions between Iran and the United States have significantly increased Bitcoin (BTC) purchases in the Middle East. Because of the sanctions imposed on Iran, whose nominal value has already lost enormous value, Iran has caused the citizens to flock to the crypto coins and gold. Although this may seem to be a negative development at first glance, it can be turned into a very positive situation when the opportunities underneath are evaluated.
With the death of Kasım Süleymani, crude oil prices increased by 2% in just 2 hours, representing an incredible rise in the global market. Although Iran had previously expressed a warm interest in the possibility of issuing its own digital money, no steps had been taken in this regard.
In addition, Virgil Griffith, who was arrested last month for helping North Korea to overcome sanctions, has clues to Iran. Griffith has shown that by using crypto coins, sanctions can be overcome, and that is exactly what Iran needs.
Iranian Digital Money Can Shake the Economy
If the Iranian authorities take action, we can witness the launch of a digital currency backed by the Iranian central bank in the coming months. Iran, where foreign firms cannot do business due to sanctions, can overcome sanctions and strengthen its economy thanks to its digital money. Of course, the relevant digital money needs to be confidential and provide liquidity.
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