Bitcoin Rises as President Trump Threatens War with Iran
Bitcoin has turned upwards as the Middle East braces for a potential war with the U.S. which might be a quick one or might descend into a prolonged proxy war. In both cases, financially it will be costly and that will probably be paid by the regressive taxation of money printing. As a hard money, bitcoin should by itself reflect this potential devaluation, in addition to actual rising demand to escape the potential significant inflation of regional money.
Many people chanting “Death to America” crowded the streets of Tehran on Monday as Iran mourned Maj. Gen. Qassim Suleimani, killed during a United States’ drone strike on Friday, whose funeral was held in the capital.
He was killed by the United States on Friday in Baghdad in a drone strike under Trump’s rule. American officials said the general had ordered assaults on Americans in Iraq and Syria.
Ayatollah Khamenei had a close relationship with the general, who was the second most powerful man. His successor swore revenge during his funeral.