Iranians mine $1 billion Bitcoins annually

Iran’s Parliament says Iranians mine one billion dollars in cryptocurrencies per annum.

In a report, the Parliament’s Economic Commission said 19,500 out of the total 324,000 Bitcoins of the world are mined in the Islamic Republic in an unofficial manner each year.

The report added that 700 Bitcoins are traded each day that are valued at 40 million dollars. It said citizens mine these cyrptocurrencies without official permission.

The Parliament’s Economic Commission also called for developing a national cryptocurrency given the anti-Iran sanctions.

The cryptocurrencies have jumped in value over the past year. Bitcoin hit highest price ever in April when it reached 60 thousand dollars.

Subscribe
The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.

LEAVE A REPLY

Please enter your comment!
Please enter your name here