Edward Snowden touted Bitcoin’s anti-fragility (Bitcoin) Although the global regulatory review of cryptocurrencies is becoming stricter.
Twitter On Sunday, the former CIA agent stated that Bitcoin has become stronger with the support of government bans and anti-encryption policies.
Snowden’s tweet cited remarks made in the throes of the Black Thursday drop on March 13, 2020, that cryptocurrency and stock markets fell due to fears of the coronavirus pandemic.
As Cointelegraph reported at the timeSnowden is not worried about the 50% drop in Bitcoin, saying that this is the first time he “has a feeling of wanting to buy Bitcoin.”
Snowden said on Twitter on Sunday: “Although governments have launched a coordinated global campaign to undermine public understanding and support for cryptocurrencies, it has risen about 10 times since then.”
During the Black Thursday crash in March 2020, Bitcoin fell to $3,800, but has since hit a record high of approximately $64,800.
As of press time, the transaction price has exceeded 47,000 US dollars. Since Snowden’s tweet in March 2020, the BTC spot price has risen by more than 10 times.
In fact, 2021 will be the year of a comprehensive crackdown on Bitcoin and cryptocurrencies, especially in China, where the Beijing authorities have increased their bets on negative cryptocurrency policies.
Some Bitcoin miners have left China and moved their hardware overseas. The closure of China’s crypto mining activities even temporarily caused a significant drop in Bitcoin’s hash rate.
Anti-Bitcoin sentiment in Washington also seems to be widespread, with some members of Congress supporting negative comments on cryptocurrencies and also calling for stricter laws.
Regulators such as Gary Gensler, chairman of the US Securities and Exchange Commission, are also pushing for stricter cryptocurrency laws, which critics say may undermine digital innovation in the United States.
At the same time, the adoption of Bitcoin continues to grow, with nation states even participating.El Salvador recently made history and became the first Accept BTC as legal currency This move may have a major impact on Central and South America.
Snowden has even commented on El Salvador’s Bitcoin law before, saying that other countries may be incentivized Accept BTC as a reserve asset.