The idea is circulating on social media that it is Iran, not Michael Saylor’s selling strategy, that is behind much of this week’s price drop.
Last week, Treasury Secretary Scott Bessent announced that more than $1 billion in Iranian crypto assets (not bitcoin) had been frozen.
And then yesterday, the United States announced sanctions against Nobitex, Iran’s largest cryptocurrency exchange, accusing it of helping the Iranian government and others evade their own sanctions through digital asset networks.
“In my opinion, all coins that could be linked to Iran and the Islamic Revolutionary Guard Corps (IRGC) were abandoned to avoid possible sanctions (i.e. contaminated coins), purchase weapons, resources, etc….” wrote Alistair Milne on X.
“Of course, not only was Iran selling, but this explains the feeling of constant selling pressure even at obvious support levels and this is quite specific to BTC,” he continued.
