When Western sanctions lock you out of the global banking system, apparently the next logical step is accepting Bitcoin for ballistic missiles. Iran is doing exactly that, according to a Financial Times report published Thursday, in what might be the most consequential use case for cryptocurrency since, well, ever.
Bitcoin for Ballistic Missiles
Iran's Ministry of Defence Export Center, known as Mindex, is openly willing to negotiate military contracts paid in digital currencies. The state-run agency, which manages Iran's overseas defense sales, isn't limiting itself to crypto either. They're also exploring barter arrangements and payments in Iranian Rials, according to the report.
Mindex's website reads like a military hardware catalogue from a particularly aggressive trade show. The offerings include assault rifles, ballistic missiles, drones, submarines, and short-range air defence systems. All presumably now available for purchase with your cryptocurrency of choice.
Why Iran Is Going All-In on Crypto
This isn't Iran's first rodeo with cryptocurrency. The country has been eyeing digital currencies as a sanctions workaround for years now, even pivoting to Bitcoin (BTC) mining operations. Iranian officials have also signaled plans to regulate cryptocurrency domestically, aiming to "eliminate negative impacts while leveraging positive effects" of digital assets.
The timing makes sense when you consider the pressure Iran is under. Last year, the country found itself in a major military conflict with Israel, which eventually drew in the U.S. to bomb Iran's nuclear facilities. Earlier this week, President Donald Trump issued a stark warning to Iran against rebuilding its nuclear program, noting that the U.S. was monitoring their activities and could authorize another major strike.
But it's not just external threats weighing on Iran. The country is simultaneously dealing with a brutal domestic crisis. Nationwide protests have triggered shutdowns that have crippled businesses, schools, and government offices across 21 provinces. When you're facing economic isolation from abroad and political upheaval at home, accepting cryptocurrency for weapons probably starts to look like a reasonable business decision.
Whether foreign governments will actually take Iran up on these crypto-denominated arms deals remains an open question. But the fact that a sanctioned nation is publicly advertising cryptocurrency payments for military hardware is a stark reminder that digital currencies exist in a regulatory gray zone that extends far beyond retail trading.