Crypto usage in Iran has surged as mass protests drive citizens to withdraw Bitcoin to preserve value during economic instability, according to Chainalysis.
Protests erupted in late December after the Iranian rial fell to record lows against the US dollar, triggering nationwide unrest.
Chainalysis reported that Iran’s crypto ecosystem reached $7.78 billion in 2025, with activity accelerating sharply during the protests.
The report highlighted a notable rise in withdrawals from Iranian exchanges to personal Bitcoin wallets during periods of unrest.
“This surge suggests Iranians are taking possession of Bitcoin at a markedly higher rate during protests than they were beforehand,”
Chainalysis said.
The firm said the trend reflects a rational response to the collapse of the rial, which has lost most of its value against major currencies.
Chainalysis also noted that Iran’s government-linked entities play a major role in the ecosystem, with IRGC-related addresses accounting for roughly half of activity in late 2025.
Bitcoin has become “an element of resistance, providing liquidity and optionality in an increasingly restricted economic environment.”
The analysis added that Bitcoin’s censorship-resistant and self-custodial features offer flexibility as access to traditional financial systems tightens.
Chainalysis said similar spikes in Bitcoin withdrawals have been observed in regions facing war, economic turmoil or government crackdowns.
At the time of reporting, Bitcoin price was $95,390.63.