Iranian protests over currency collapse show why Bitcoin’s needed: Bitwise CEO
Widespread protests took place in Iran’s capital after the rial slid to record lows, prompting Bitwise CEO Hunter Horsley to argue Bitcoin could help Iranians protect their savings.
Protests erupted across Iran’s capital of Tehran on Monday as the rial hit record lows against the US dollar, a currency collapse that locals blame on the central bank’s poor fiscal policies as they watch the value of their life savings evaporate.
While there’s no single solution to the economic hardship that Iranians are facing, Bitwise CEO Hunter Horsley suggested that Bitcoin (BTC) is a way for people around the world to protect themselves from plunging currency values.
“Economic mismanagement — The story of the past, present, and future,” Bitcoin is a new way for the people to protect themselves,” Horsley said in a post to X Monday.