Monday, July 22, 2024

According to Edward Snowden, Bitcoin has grown stronger despite government crackdowns

Edward Snowden, the former national security agency whistleblower has broken his silence on cryptocurrency. On October 4, 2021, Edward re-shared his tweet from March 13, 2020. In the tweet, he has mentioned his desire to buy cryptocurrency after the fall in the value of the crypto. As per his tweet, the value of cryptocurrency went down by 40%, and many people must have bought the cryptocurrency as it ranges from $3000 (estimate Rs. 2 lakh) to $5000 (estimate Rs. 4 lakh) according to BitcoinPrice.com. Many Bitcoin supporters, liked the post of Edward Snowden and even commented in favor of cryptocurrency.

Through the recent tweet, Edward brings the nation’s attention to the increase in the value of cryptocurrency. The price of Bitcoin went up from $3,800 last year March to $64,800 this year. Ultimately, this was a huge change in the price. He also brought into light the coordinated efforts of the government to subvert the understanding of people on cryptocurrency. Even, he mentioned the instance that “China even banned it, but it just made Bitcoin stronger.”

By the statement, Edward meant that the ban of crypto-related activity by China does not affect Bitcoin at all but it has made Bitcoin stronger. In 2017, China banned all crypto-related activities, about which Snowden talked in his tweet.

The ban by China and distrust of other governments positively impacted Bitcoin. As several other nations including El Salvador, Kazakhstan, and other countries give accreditation to Bitcoin-related activities, which turns out to be positive impact.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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