Iranian bank crisis underscores Bitcoin’s role as financial hedge

Iran’s financial system just suffered one of its most dramatic implosions in years. The country’s Central Bank declared Ayandeh bank, one of its largest private lenders, bankrupt and its assets were absorbed by the state. Founded in 2012 with over 270 branches nationwide, Ayandeh bank had accumulated $5.2 billion in losses and nearly $3 billion in debt, The post Iranian bank crisis underscores Bitcoin’s role as financial hedge appeared first on CryptoSlate.