Bitcoin Emerges as a Risk-Aversion Tool in the Middle East Amid Iran Conflict

According to an analysis by the U.S. think tank BPI, Bitcoin is gaining traction as a risk-aversion tool across the Middle East and North Africa following the conflict involving Iran. The report notes a bifurcation in usage: Bitcoin is being utilized as a hedge against currency devaluation in Egypt and Turkey, while it serves as a component of economic diversification strategies in the UAE and Saudi Arabia.