Iran’s currency plunged nearly 95% overnight, and authorities reportedly cut off internet access as protests spread. That moment taps into a global fear: what happens to your money when both banks and the Internet stop working?
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What is really happening in Iran?
The Iranian rial fell from already weak levels to almost a million per US dollar, wiping out domestic purchasing power almost instantly. Vendors in Tehran’s Grand Bazaar struggled to get prices, prompting protests and a government response. Authorities restricted communications, reducing internet usage by 97%.
(Source: Iran Riyal value / Xe)
This is important because digital currency needs access. Failed credit cards. Banking applications are static. Even crypto has been difficult to use because you still need a connection to access the network.
Some Iranians turned to Starlink satellite internet, despite its illegal and punishable use, as access itself became a financial lifeline.
Why does Bitcoin enter the discussion
Bitcoin was built for times like this. It allows you to send money directly to another person without a bank. Think of it as a digital currency that lives on a public ledger instead of a basement.
JUST JOIN: 🇮🇷 Iran offers to sell weapons systems, missiles, drones, and warships to foreign governments for Bitcoin and crypto. – Financial Times pic.twitter.com/5q32StInpr
– Bitcoin Archive (@BitcoinArchive) January 1, 2026
Here is the part that most beginners miss. Bitcoin doesn’t need banks, but it does need a path to the network. That means could be the Internet, satellites, or radio signals.
Tools like Blockstream Satellite broadcast the Bitcoin blockchain from space. Anyone with the right equipment can verify transactions without a regular internet connection. That design keeps Bitcoin alive even when governments change.
Bitcoin as a hedge vs. Bitcoin as a way of life
These are two different jobs. As a hedge, Bitcoin protects against money printing because its supply is capped at 21 million. Losing 20% in a month sounds painful, but it beats losing 95% overnight.
As a way of life, Bitcoin helps people move money across borders where banks block transfers. That works best when people already hold Bitcoin and control their wallets.
In Iran, the regime moved quickly to block the exit. Coins like USDT, which act as digital dollars, face hard caps. Peer-to-peer trading still exists, but the prices are spread, and the risks are higher.
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Where the risk is immediate
(Source: BTCUSD / TradingView)
Bitcoin is volatile. It swings hard. That makes it difficult to spend money every day on the problem. Access is also more important than ideas.
When the interchange closes, the on-ramps disappear. When the internet is always black, only those with the technical equipment can use the network. That gap leaves everyday families exposed.
We have seen similar stress points in other regions facing hyperinflation and strict crypto regulations in the Middle East.
The Iran crisis shows the true role of Bitcoin. It doesn’t magically fix broken economies, but it gives people a way out when money fails. The open question is access, not design, and that’s where the next chapter is decided.
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