These past few days, I've been closely watching the market data of the Iranian Rial, and I really can't hold it together anymore. This is not just about currency devaluation; it's a harsh reality telling you: paper money can really become waste paper.

As someone who has been active in the crypto space for nearly ten years and has experienced multiple extreme market fluctuations, I must say: this collapse of the Iranian Rial is not a distant story, but a warning bell for every asset holder.

Let's look at the specific data. At the beginning of 2024, 1 USD exchanged for 450,000 Rials, with little difference between official and black market rates. By early 2026, the free market rate soared to 1 USD for 1,450,000 Rials—meaning in just over a year, the Iranian currency depreciated by over 90%. To put it another way: last year, a stack of money could buy ten pounds of flour; this year, only enough for one pound.

What’s even more heartbreaking is the rising cost of living. The official inflation rate hit 42.5%, and food prices surged even more—an outrageous 72% increase. One kilogram of beef costs between $15 and $18, but the average local salary is only $70 per month. Doing the math makes it clear: buying one pound of meat costs a quarter of a month's wages. For retirees, the situation is even worse—what used to be enough pension to live comfortably now can't cover ten days of expenses. A civil servant’s half-year salary? It can't even cover basic living supplies.

The chain reaction caused by this extreme devaluation is beyond imagination. Savings are rapidly eroded, and cash in people's hands seems to be constantly melting away. Those living on fixed incomes are completely hopeless because wage growth can never keep up with rising prices.

Why is this so important for crypto participants?

Simply put, Iran’s experience is a comprehensive case study—it demonstrates the fragility of a single fiat currency system under extreme pressure. When a country's currency spirals out of control, ordinary people have no effective protection. Bank deposits get diluted, cash depreciates, and everything is under the control of rule-makers.

This is precisely the underlying logic behind crypto assets. They are not affected by a single country's policies, have transparent supply, and can be self-custodied—these features become real hedging tools during global financial fluctuations. What happened in Iran could happen elsewhere today, and in those places, holding multi-chain assets at least offers an alternative.

Of course, this doesn't mean crypto is a perfect solution. But the reality is clear: relying solely on a single fiat currency for savings has greatly amplified risks. A rational asset management strategy should include hedging measures. History repeatedly proves that diversification can save lives at critical moments.

The story of the Iranian Rial is not over yet. But it already clearly tells us: safeguarding against fiat devaluation risk is not alarmism, but a pragmatic financial hygiene.