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Iran's Bitcoin market recently has been eye-opening. Prices are not only soaring but also repeatedly hitting new all-time highs. The underlying reason is quite straightforward—local fiat currency continues to depreciate, and residents and institutions are using Bitcoin to hedge against inflation risks. Similar situations have occurred multiple times in high-inflation countries, and people's shift to cryptocurrencies is essentially a search for a more stable store of value. From this perspective, the rising adoption of Bitcoin in emerging markets is closely linked to its role as an anti-inflation tool. This also reminds us that changes in macroeconomic conditions often drive structural demand in the crypto market.