TEHRAN,Iran, June 9
Trend:
Investment in cryptocurrency in Iran is expected to grow in the future, head of Iran Blockchain Community Sepehr Mohammadi told Trend.
"Investing in cryptocurrency market requires deep knowledge that includes training on block chain and digital currency," he said.
"The global economic crisis in 2008 was caused by European banks over printing money that led to inflation. The idea of blockchain technology was formed in order to prevent access of centralized systems. Bitcoin was shaped in 2008 as a technology that can change the future," he added.
"Bitcoin has been secure during its time and not even been hacked once. The gold sources are limited and Bitcoin is also limited and around 21 million Bitcoin is 'in the cycle'," he said.
"Bitcoin was designed during critical times after the fall of big economies and currently, during the coronavirus spread in the world, Bitcoin has also been affected but it has recovered fast. On the other hand, some $4.1 trillion has been printed to compensate the damages of coronavirus crisis. This certainly would increase the prices in gold and cryptocurrency market," he said.
"Many digital currencies have been upgraded in the past two years such as Atrium 2. This in turn would lead to digital currencies turning into one of the most profitable markets in the next two years," he said.
"Individuals that want to invest in this market, should at least have a capital of 500 million rials (about $11,900). Iran Blockchain Community will sign a contract with investors for three years, although it does not mean they can't withdraw their money during this time period," said Mohammadi.