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Iran moved $3B in BTC to IRGC — Treasury just sanctioned its exchange`inbitcoinwetrust.substack.com/p/exposed-how-washington-quietly-used-iran-to-hijack-bitcoin
442 sats \ 5 comments \ @Chikasunbeats 20 Sep Politics_And_Law

Wild stat: Iran mining BTC for ∼$1,300 when price is $80k+. By 2021 they had 7.5% of global hashrate.
‎2025 flows hit $7.78B, with $3B going to IRGC.
‎Treasury just sanctioned BitBank for moving "hundreds of millions" in BTC for Hormuz ship passage tolls.
‎Are sanctions actually driving Bitcoin adoption by nation-states?

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1 sat \ 2 replies \ @iguano 20 Sep

The best part is that they're now realizing that other blockchains can freeze their accounts, so Bitcoin is their only option.

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1 sat \ 1 reply \ @Chikasunbeats OP 26 Sep

Good point! I was shocked Treasury had to sanction BitBank for "hundreds of millions" in BTC tolls for Hormuz ship passage. That's state-level Bitcoin use. Curious — do you think sanctions make Bitcoin more censorship-resistant or just push it underground?

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1 sat \ 0 replies \ @iguano 27 Sep

I think sanctions make a use case for bitcoin.

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1 sat \ 1 reply \ @SatAttack 20 Sep

“Are sanctions actually driving Bitcoin adoption by nation-states?”

🔫 Always have been

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1 sat \ 0 replies \ @Chikasunbeats OP 26 Sep

100% — sanctions always been the best marketing for Bitcoin. Iran mining at $1,300 cost when price is $80k+ is insane margin. If 7.5% of hashrate in 2021, imagine now with $7.78B flows. Do you think more sanctioned states will follow the same playbook?

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