Iran’s currency collapsed by around 95% in a single night, while authorities reportedly cut off internet access as protests spread. This moment echoes a global fear: What happens to your money when banks and the Internet stop working?
DISCOVER: Top 20 cryptocurrencies to buy in 2026
What really happened in Iran?
The Iranian rial fell from already weak levels to nearly a million to the US dollar, wiping out household purchasing power almost instantly. Traders in Tehran’s Grand Bazaar have struggled to price their goods, sparking protests and a state response. Authorities have restricted communications, reducing internet usage by up to 97%.
(Source: value of the Iranian riyal / Xe)
This is important because digital money must have access to it. Credit cards failed. Banking applications have been frozen. Even cryptography has become difficult to use because you still need a connection to access the network.
Some Iranians have turned to Starlink satellite internet, although its use is illegal and punishable, as access itself has become a financial lifeline.
Why Bitcoin Enters the Conversation
Bitcoin was designed for times like this. It allows you to send value directly to another person without a bank. Think of it as digital money that sits in a public ledger rather than a vault.
JUST IN:
Iran offers to sell weapons systems, missiles, drones and warships to foreign governments for Bitcoin and crypto. -Financial Times pic.twitter.com/5q32StInpr
– Bitcoin Archive (@BitcoinArchive) January 1, 2026
Iran offers to sell weapons systems, missiles, drones and warships to foreign governments for Bitcoin and crypto. -Financial Times Here’s the part that many beginners miss. Bitcoin doesn’t need banks, but it does need a network path. This path can be the Internet, satellites or radio signals.
Tools like Blockstream Satellite broadcast the Bitcoin blockchain from space. Anyone with the right equipment can verify transactions without a normal internet connection. This design keeps Bitcoin alive even when governments flip the switch.
Bitcoin as a hedge vs Bitcoin as a lifeline
They are two different professions. As a hedge, Bitcoin protects against money printing because its supply is capped at 21 million. Losing 20% in a month is painful, but it’s better than losing 95% overnight.
As a lifeline, Bitcoin helps people move money across borders when banks block transfers. This works best when people already hold Bitcoin and control their own wallets.
In Iran, the state acted quickly to block exits. Stable coins like USDT, which act like digital dollars, are subject to strict caps. Peer-to-peer commerce still exists, but prices are spreading and risks are increasing.
DISCOVER: The Best Ethereum Meme Coins to Buy in 2026
Where risks appear quickly
(Source: BTCUSD/TradingView)
Bitcoin is volatile. It swings hard. This makes daily spending difficult in a crisis. Access also matters more than ideology.
If the stock markets stop, the access ramps disappear. If the Internet remains dark, only those with technical tools can use the network. This gap leaves everyday families exposed.
We have seen similar pressure points in other regions facing currency hyperinflation scenarios and stricter crypto regulations in the Middle East.
The Iranian crisis shows the true role of Bitcoin. It doesn’t magically fix broken economies, but it gives people a way out when money is tight. The open question is access, not design, and that is where the next chapter will be decided.
DISCOVER: The Best Solana Meme Coins to Buy in 2026
Follow 99Bitcoins on X for the latest market updates and subscribe on YouTube for daily market analysis from experts
The article Iran Currency Crash Tests Using Bitcoin Without Internet appeared first on 99Bitcoins.
