Crypto usage in Iran has experienced a significant surge amid the country’s ongoing mass protests, with a substantial increase in Bitcoin withdrawals as Iranians seek to preserve value amid economic instability, according to a report by Chainalysis. The protests, which began in late December, were sparked by worsening economic conditions, including the Iranian rial hitting record lows against the US dollar. As demonstrations escalated nationwide, Iran’s regime responded by cutting internet access, with international human rights groups alleging the use of lethal force against protesters.
Crypto Ecosystem Growth
Chainalysis noted that Iran’s crypto ecosystem reached $7.78 billion in 2025, with a marked acceleration in growth amid the unrest. This includes a substantial increase in the number of daily crypto transfers and the amounts transacted. The report highlights that the surge in withdrawals from Iranian exchanges to unattributed personal Bitcoin wallets suggests Iranians are taking possession of Bitcoin at a higher rate during protests than beforehand. This behavior is seen as a rational response to the collapse of the Iranian rial, which has lost nearly all of its value against major currencies like the euro.
There has been a substantial increase in the number of daily crypto transfers and the amount transacted during unrest in Iran. Source: Chainalysis. Furthermore, the Islamic Revolutionary Guard Corps’ (IRGC) crypto activity accounted for half of the total crypto ecosystem in the fourth quarter of 2025, with IRGC-associated addresses receiving more than $3 billion in total last year.
Crypto as a Tool for Resistance
Chainalysis emphasizes that Bitcoin’s role during the unrest in Iran extends beyond capital preservation; it has become “an element of resistance, providing liquidity and optionality in an increasingly restricted economic environment.” The censorship-resistant and self-custodial nature of Bitcoin offers financial flexibility, particularly valuable in situations where individuals may need to flee or operate outside government-controlled financial channels. This trend is not unique to Iran, as Chainalysis notes that other regions experiencing war, economic turmoil, or government crackdowns have also seen increased Bitcoin withdrawals during times of instability.
Crypto Adoption in Iran
According to TRM Labs, roughly $3.7 billion in total crypto flows were tracked in Iran between January and July 2025. Additionally, around seven million people, out of the country’s 92 million population, are estimated to be crypto users, as reported by Statista. As sanctions pressure and international opprobrium intensify, and Iran’s economic volatility persists, cryptocurrency is likely to remain a crucial tool for Iranians seeking financial sovereignty.
For more information on the role of crypto in Iran and its implications, readers can refer to the original report by Chainalysis and explore other relevant articles on Cointelegraph.
