Iranian Foreign Ministry spokesperson Esmaeil Baqaei used a famous quote from William Shakespeare’s play “Macbeth” on Monday to ridicule Treasury Secretary Scott Bessent’s claim about seizing $1 billion worth of Iran’s cryptocurrencies.
‘Dwarfish Thief’ In ‘Giant’s Robe’
Baqaei posted a video of Bessent from the Reagan National Economic Forum last month, where the Treasury Secretary said the U.S. had seized “about a billion dollars” in Iran’s digital assets.
“Just outright grabbed the wallets. Some of them may be typing in right now and might not realize that their wallet has been grabbed,” Bessent had said.
Baqaei then threw a shade with a quote from Shakespeare’s famous tragedy play that goes, “Now does he feel his title Hang loose about him, like a giant’s robe Upon a dwarfish thief.”
The line is spoken to describe the failing rule of Macbeth—the title character of the play—who is facing a rebellion.
Macbeth murders his king to seize the throne, and the quote uses “dwarfish thief” to describe him as someone who morally lacks the stature to actually rule and wear the “giant’s robe” that belonged to the king.
Iran’s Crypto Landscape
Iran has relied on cryptocurrency rails to evade sanctions from the U.S. and its allies. Blockchain research firm Chainalysis estimates that Iranian cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps accounting for roughly half.
The Treasury Department has sanctioned multiple cryptocurrency wallets linked to Iran, in coordination with stablecoin issuer Tether (CRYPTO: USDT) and blockchain network, Tron (CRYPTO: TRX).
Notably, Iran has also proposed an insurance-based platform that uses cryptographic verification to secure cargo transit through the Strait of Hormuz, with payments settled in Bitcoin (CRYPTO: BTC).
Image via Shutterstock/ Maxim Elramsisy
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