Iran's crypto "shadow economy" size reaches $7.78 billion, with the public turning to Bitcoin for risk hedging

BTC0,21%

PANews reports on March 1 that, according to Coindesk, blockchain analytics firm Chainalysis states Iran’s cryptocurrency ecosystem will reach $7.78 billion in 2025, with growth surpassing the previous year.
Iran legalized cryptocurrency mining in 2019, allowing licensed operators to use subsidized electricity and sell mined Bitcoin to the central bank. Recent estimates suggest Iran accounts for 2% to 5% of global Bitcoin mining hash rate.
The Islamic Revolutionary Guard Corps (IRGC), as the country’s main military force, has continued to deepen its influence in the cryptocurrency sector. Chainalysis estimates that in Q4 2025, addresses associated with IRGC will account for over 50% of Iran’s total cryptocurrency inflows, totaling over $3 billion received last year.
Another analysis by Elliptic found that the Central Bank of Iran accumulated at least $507 million in USDT by 2025, which could help stabilize the rial’s exchange rate and promote trade. However, this effort largely failed, as data shows the rial has depreciated over 96% against the dollar. Meanwhile, ordinary Iranians have begun turning to Bitcoin. During recent protests and internet outages, the amount of Bitcoin withdrawn from local exchanges to personal wallets has surged.

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