Floating around social media is the idea that it is Iran, not the selling of Michael Saylor’s strategy, that is behind much of this week’s price crash.
Last week, Finance Minister Scott Bessent announced that more than $1 billion of Iranian crypto assets (not bitcoin) had been frozen.
And then yesterday, the US announced sanctions against Nobitex, Iran’s largest cryptocurrency exchange, accusing it of helping the Iranian government and others evade their own sanctions via digital asset networks.
“In my opinion, all coins that could be linked to Iran/Islamic Revolutionary Guard (IRGC) have been dumped to avoid possible sanctions (ie tainted coins), buy weapons, resources, etc…,” wrote Alistair Milne on X.
“Obviously it wasn’t just Iran selling, but that explains the sense of constant selling pressure, even at obvious support levels, and that’s quite BTC specific,” he continued.
