Myrrh was especially important as a substance traditionally used in the anointing of kings.
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Traditionally the view developed that the magi were Persian or Parthian, and art works generally depicted them in Persian dress.
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Rather it is attributed to Dionysius Exiguus who guessed incorrectly about when to start his calendar.
Marco Polo in his writings claimed that he saw the perfectly preserved bodies of the three men in Saveh in Persia on his journeys.
This verse mainly serves as a lead into the next one, which is a quote from Micah 5:1-3, and Micah is thus the prophet mentioned here.