After the decision on the legalization of mining bitcoin in Iran jumped to $24 thousand
Iran — the country is so special that even the cryptocurrency market it lives by its own laws. While in the world market of all crypto currencies collapsed, Iran — the rapid growth. The secret is simple — the isolation and hyperinflation of the national currency against the backdrop of positive market news plus the difference between the official and real exchange rates of the national currency.
After the news that the Iranian authorities are planning to legalize mining, recorded a new leap year.
Local cryptogenic EXIR bitcoin Wednesday rose from $20 to $24 million, setting perhaps a new world record. However, the impact is not only positive news.
The Iranians seek every opportunity to convert their savings into other currencies, including the crypt to protect them from hyperinflation, which is even more accelerated in anticipation of new us sanctions.
The official rate of the Iranian Rial to the dollar — 42000 to 1, and the actual rate at which you can buy the dollar on the black market, is approaching 140 thousand EXIR in their data operates exactly the official rate of the Rial, hence the difference between local and world price of bitcoin.
However, the record has a record – the parallel existence of two exchange rates, it usually means that someone has access and to speculate on their differences.
Given such dynamics, the frenzied demand for any other currency that is available is not surprising. Effect and the effect of policy on Tehran, aimed at the insulation market and the increasing complexity of citizens ‘ access to the cryptocurrency. According EXIR, bitcoin exchange rate is not increased overnight growth over the last 3 weeks was about 40%.
The beginning of the growth coincided with changes in the official policy of Iran regarding the cryptocurrency that emerged in late August. So, last month we learned that the launch of the national Iranian cryptocurrency received the approval of President Rouhani.
And yesterday came the news that the Iranian authorities are planning to legalize mining. As in the case with the release of national cryptocurrencies, the package of legal acts regulating this field, it is expected by the end of September.