Floating around social media is the idea that it is Iran, not the selling of the Michael Saylor Strategy, that is behind much of this week’s price decline.
Last week, Treasury Secretary Scott Bessent announced that more than $1 billion in Iranian crypto assets (not bitcoin) had been frozen.
And yesterday, the United States announced sanctions on Nobitex, Iran’s largest cryptocurrency exchange, accusing it of helping the Iranian government and others evade its own sanctions through digital asset networks.
“In my opinion, any currency that could be linked to Iran/Islamic Revolutionary Guard Corps (IRGC) has been ruled out to avoid possible sanctions (i.e. tainted currencies), purchasing weapons, resources etc…” Alistair Milne wrote in X.
“Of course, not only was Iran selling, it explains the feeling of constant selling pressure even at obvious support levels and being quite specific to BTC,” he continued.
