Bitcoin Price Hits $24,000 in Iran as Government Approves Crypto Mining Industry


Iran’s Supreme Cyberspace Council has officially recognized cryptocurrency mining as a legitimate industry, a move that could help the Islamic Republic quell the pending blowback from U.S. sanctions. The news seems to have ignited a flurry of buying interest on domestic exchanges, with the bitcoin price clocking in at a new record high of $24,000.

The $24,000 figure was quoted on multiple digital currency exchanges but most notably Exir, where BTC traded hands at a price of 1,020,000,000 IRR. That quashes the previous high of $20,000 per coin. By comparison, bitcoin traded at around $7,000 on major cryptocurrency exchanges on Wednesday.

Ethereum was also significantly inflated, with Exir quoting a price equivalent to around $900. The second-largest cryptocurrency by market capitalization was worth roughly $260 globally.


mining bitcoin is something that everyone who is active on cryptocurrency needs, why? because by mining we don’t need to bother to search again, because you already get passive income every day, but unfortunately mining requires quite expensive fees, so only a few people do bitcoin mining.
and what is done by “Iran’s Supreme Cyberspace Council” is a good step, to increase the country’s revenue, if all countries do it, maybe bitcoin can reach the price of 50,000 usd.


That was insane, unbelievable. Look how the community reacts to the power of the government. Being recognized legally is a great help to crypto community, bitcoin and altcoins and to the whole blockchain tech. Hopefully it is not only Iran but majoriy of the ruling government recognize this. However, it will be a great impact too if the otherwise happened.


Bitcoin is create as an alternative to fait, people are using it as comodity to speculate the price.