Why Iran Is Launching A Bitcoin Mining Strategy

Plus it's Bitcoin Pizza Day!

Happy Long Weekend Friday, Blockfolians

The Lede

It’s been quite the week for crypto in Iran. First, the parliament published a bill that would put cryptos under the countries strict forex and smuggling rules - an attempt, most likely, to keep too much capital from leaving the country.

Bitcoin Miners Incline Towards Iran Due Its Cheap Electricity

But then just yesterday, news broke that President Hassan Rouhani had ordered the government to draw up a national strategy around crypto mining. It’s not the first time Iran has been ahead on mining, becoming one of the first countries to recognize it as a legitimate industry in July 2019.

For some, the news portended a future of governments getting more actively involved in bitcoin.

Others were more skeptical.

Whatever the case, it will be an interesting situation to watch - one that overlays bitcoin with a major source of global geopolitical tension.

And on that ominous note — happy Memorial Day to our readers in the USA!

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Highly Relevant Reading


Community Commentary

Wall Street can no longer ignore bitcoin.
It also probably can’t ignore the real economy…at least not forever.

A Really Big Number We Should Be Paying Attention To 

$45,000,000

That’s the value of the 10,000 BTC Laszlo Hanyecz used to buy pizza on this day 10 years ago, perhaps the first true commercial transaction of bitcoin.


Final Thought

Don’t miss this one. 🔥