Bitcoin has reached more than $29,500 on LocalBitcoins after The US killed General Soleimani
Bitcoin has reached more than 973 mln Iranian rials (roughly $29,500) on LocalBitcoins, the Finland-based P2P crypto exchange. This is nearly 300 % higher compared to its current market value of $7,250.
Bitcoin surged by more than 5 % just hours after the US airstrike killed Iran’s most powerful military commander Qasem Soleimani in Baghdad airport on Jan. 3.
In May 2019, LocalBitcoins has officially shut off service for Iran-based users, a move that follows weeks of rising rial trading volumes on the platform, which was historically one of the most vibrant markets for the peer-to-peer exchange. Bitcoin is a useful means of bypassing the harsh economic sanctions imposed by the US, which allegedly prompted the restriction.
LocalBitcoins has been perhaps the most popular Bitcoin exchange among Iranian users, as it doesn’t require international credit card information, something Iranians have been bereft of for decades – and allows users to pay with their local bank accounts.
As of now, the Iranian section of the platform is up and running, and some are seemingly willing to pay a high price for purchasing BTC.
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