Large-scale protests erupted in Tehran after Iran’s national currency slid to record lows against the US dollar.
Demonstrators blamed the collapse of the rial on prolonged economic mismanagement and central bank policy failures.
The sharp decline has wiped out household savings and intensified public anger over living costs.
Bitwise chief executive Hunter Horsley said the crisis highlights the need for alternative stores of value.
Economic mismanagement is the story of the past, present, and future, and Bitcoin is a new way for people to protect themselves.
Hunter Horsley said.
Horsley argued Bitcoin offers individuals a hedge against collapsing national currencies worldwide.
The rial has lost more than 40% of its purchasing power since the brief war with Israel in June.
The currency is now trading near a record low of roughly 1.4 million rial per US dollar.
Alex Gladstein said Iran’s currency decline shows a dramatic long-term erosion of value.
The official rate in the early 1980s was 70 per dollar.