Iranians buy BTC in bulk, withdraw to private wallets amid conflict

Iranians are buying Bitcoin in large quantities and withdrawing the funds to self-custody addresses amid the country's conflict with the United States, Bitcoin Magazine reported, citing data from Chainalysis. From January to March of this year, Iran's cryptocurrency ecosystem grew to $7.8 billion. The data also showed that BTC withdrawals from exchanges to personal addresses surged following localized battles, bombings, or internet shutdowns.