The States will fight for Bitcoin - BTC Iranian Miners have a new customer: their Central Bank!

Iran finally opens up to cryptos - In recent years, Bitcoin has attracted the attention of investors, individuals and companies. Today, the various governments and monetary authorities seem to want to exploit the full potential of this technology as well. The Iranian government embodies this new dynamic.

 

Bitcoin, the black gold of the 21st century?

Until now, the Iranian state has been rather reticent towards cryptomoney. For example, it is possible to legally mine BTC in the country, but trading is prohibited.

 Today, a new plan is being launched in the country. Indeed, Iran plans to develop several Bitcoin mining centers within the country. Indeed, this region of the world has large reserves of gas and oil, which allows it to generate cheap electricity. These centers will use the surplus energy produced by the country's power plants to extract cryptomoney. The development of such infrastructures is strategic. Indeed, the country wants to achieve several objectives.

All mined Bitcoins will be sold to the Iranian government at a logically attractive price. The latter will use the accumulated Bitcoins to finance the country's imports. Over the last two years, the country has seen its foreign exchange reserves decrease by 33%. At the same time, Iran is betting more on Bitcoin in order to circumvent the crippling American sanctions.

 

Circumventing the American embargo

Once again, Bitcoin is used to break free from the established monetary system. American hegemony is considered unfair and anti-competitive, especially in a climate of tension between the United States and Iran. In fact, on October 8, the US Treasury Secretary announced his intention to exclude the Iranian financial sector from the rest of the world for good. This strategy led by the Trump administration aims to put pressure on the Islamic Republic to impose conditions regarding "the international agreement on Iran's nuclear program. »

 

"Our sanctions will continue until Iran stops supporting terrorist activities and ends its nuclear programs. "Steven Mnuchin, U.S. Treasury Secretary

 

Bitcoin can therefore present a solution to address the problems related to sanctions against the country. By freeing itself from the dollar, the country would no longer be subject to U.S. sanctions. The "decentralized" and "libertarian" nature of Bitcoin makes it possible to send or receive a monetary transaction, regardless of where one is located.

 This new strategy is reminiscent of the situation in Venezuela, a country that is also punished by the United States. The United States had taken the decision to strongly regulate Bitcoin miners in the country. The government led by Nicolas Maduro wanted to nationalize this industry in Venezuela.