Iran's Cryptocurrency Ecosystem Projected to Reach $7.78 Billion by 2025

Iran's cryptocurrency ecosystem is expected to grow significantly, reaching $7.78 billion by 2025, according to blockchain analysis firm Chainalysis. According to PANews, this growth rate surpasses that of the previous year. In 2019, Iran legalized cryptocurrency mining, allowing licensed operators to use subsidized electricity and sell mined Bitcoin to the central bank. Estimates in recent years suggest that Iran's share of global Bitcoin mining power ranges between 2% and 5%. The Islamic Revolutionary Guard Corps (IRGC), Iran's primary military force, has increasingly expanded its influence in the cryptocurrency sector. Chainalysis estimates that by the fourth quarter of 2025, addresses associated with the IRGC will account for over 50% of Iran's total cryptocurrency inflows, with more than $3 billion received last year. Another analysis by Elliptic found that Iran's central bank had accumulated at least $507 million in USDT by 2025, potentially aiding in stabilizing the rial's exchange rate and facilitating trade. However, this effort largely failed, as data shows the rial has depreciated by over 96% against the dollar. Meanwhile, ordinary Iranians have turned to Bitcoin, with a sharp increase in withdrawals from local exchanges to personal wallets during recent protests and internet disruptions.