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Iran Trade Turns to Bitcoin as Sanctions Cut Global Access
Bitcoin reclaimed $80,000 as Iran expert Ebrahim Mello said sanctions and war have made crypto a practical payment rail for Iranian businesses. Mello said limited access to Visa, Mastercard, and SWIFT has pushed firms and individuals to convert rials into digital assets and send funds abroad through wallets. Mello estimated Bitcoin mining in Iran can cost about $1,000–$1,500 per coin, but the boom also strained the power grid and drew government enforcement.