During protests in Iran, the public has been extracting large amounts of Bitcoin, and the plummeting rial has driven safe-haven demand.

CoinVoice has learned that amid widespread anti-government protests and government-imposed internet blackouts in Iran, local residents are accelerating the transfer of Bitcoin into personal wallets. Blockchain analysis firm Chainalysis pointed out that from the start of the protests until the network disruptions, BTC withdrawal transactions flowing from local Iranian exchanges to unknown personal wallets increased significantly, indicating that people are self-custodying Bitcoin at higher frequencies during social unrest. Chainalysis believes this behavior is closely related to the sharp devaluation of Iran's fiat currency, the Rial. Data shows that the Rial to USD exchange rate dropped from about 420,000 to over 1,050,000 in a short period, with purchasing power rapidly eroding. In this context, Bitcoin is viewed as an important tool for hedging against currency collapse and economic instability due to its decentralized, censorship-resistant, and cross-border transfer features. The report also notes that this trend is consistent with other regions experiencing war, economic crises, or government repression. Additionally, Chainalysis disclosed that addresses associated with the Iranian Islamic Revolutionary Guard Corps (IRGC) accounted for over 50% of Iran's total crypto asset inflows in Q4 2025, with on-chain transaction volumes exceeding $3 billion for the entire year.