BTC Wires

Reports of $24,000 Bitcoin in Iran are Proven False

There are some interesting Bitcoin-related bits of gossip out there. Ongoing strains in Iran have made a considerable amount of data be wrongly interpreted.

The social unrest can usually trigger a local BTC price increase.

Bitcoin Is Not Squandering in Iran

Following the incidents influencing Iran and Iraq, one would anticipate that residents should rush to elective resources.

While that might be the situation, a portion of the data found online is clearly off-base.

In Iran, Bitcoin was trading as high as 1 billion Iranian rials.

People who don’t conduct their research, they simply claimed that this was equal to roughly $24,000.

Where that is the official Iranian central bank exchange rate, it’s not the actual market value.

That exchange rate is just used by the banks, and by the government.

Everyone else reportedly used a rate that is roughly one-third of the official rate.

As such, the BTC price in Iran is just $8,000, not too far off from its real global market value.

There’s still a premium that needs to be paid, yet far from a steep one.

It is quite clear to put things such as these in their actual perspective at all times.

Falsely reporting the BTC value in Iran is something that everyone should refrain from.

There’s enough false news available of the internet as it is, and BTC’s reputation need not be tarnished by it.