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1. Iran intends to fight against the American sanction through Bitcoin
Two days after Trump announced that the United States will withdraw from the The
Iranian nuclear deal, the Treasure Department of United States declared to
implement a new round of sanction against Iran on 10th, May. It is reported by
Forbes that the Iranian intend to fight against the economic blockade from America
by bitcoins. Currently, 2.5 billion U.S. dollars have been transferred out of the
country.
Although the Iranian Central Bank issued a ban in April about cryptocurrency to
prohibit banks in the country from processing Bitcoin services and promoting
cryptocurrencies. However, according to Mohammad Reza Pourebrahimi, the
chairman of the Iranian Economic Commission, by now, Iranian citizens have spent
2.5 billion U.S. dollars to buy btc and transfer the money abroad. Although the
action will lead to capital outflow and aggravate domestic economic crisis, Iranians
may still continue to transfer funds by Bitcoin, because of the high bitcoin value.
Similar situations have occurred in other countries which suffered from economic
crisis. For example, in Zimbabwe, bitcoin price is much higher than the global
average price, so bitcoin has become the most reliable way to preserve and transfer
assets in Zimbabwe. However, there are some national governments intending to
solve the crisis through cryptocurrency. The most radical country is Venezuela.
President Madewell promoted Petro nationally, and has already raised over 3 billion

2. U.S. dollars of foreign investment. Besides, Some Russian government officials have
stated that cryptocurrency may be used to break the economic blockade from the
United States.