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Iran’s 700% Nobitex Withdrawal Spike Shows Bitcoin’s Wartime Use Beyond "Digital Gold"
As coordinated U.S. and Israeli strikes on Iran enter their fourth day, gold has surged toward $5,400 per ounce and Brent crude has jumped about 17% to $83, while Bitcoin has slid back toward $66,000 and remains roughly 47% below its $126,000 peak from last October. According to Elliptic, withdrawals on Iranian exchange Nobitex, which serves around 11 million users and handles about 87% of the country’s crypto volume, spiked over 700% within minutes of the first airstrikes, with nearly $3 million moved off the platform in one hour as users sought to move funds away from local banking channels.