Join today to get full access to our basics to advance crypto courses, exclusive insights, research & analysis.
Bitcoin BTC

Snowden believes Bitcoin is stronger after China’s ban

04 Oct 2021 : 21:34
2 min read
  • Edward Snowden believes that Bitcoin is stronger after China’s latest ban
  • He pointed out that Bitcoin’s price is up ten times since he tweeted about it last year
  • Snowden wants more privacy design for the leading cryptocurrency

Former NSA contractor and infamous whistleblower Edward Snowden believe that Bitcoin is stronger following the latest crypto ban in China.

Bitcoin is stronger, says Snowden

Edward Snowden, a former contractor for the U.S. National Security Agency, believes that China’s cryptocurrency ban has strengthened the leading cryptocurrency. Snowden became popular after highly classified intelligence in 2013.

In March last year, Snowden said, “This is the first time in a while I’ve felt like buying Bitcoin. That drop was too much panic and too little reason.” He quoted the tweet yesterday, stating that he believes Bitcoin is stronger following China’s latest ban.

 

He pointed out that Bitcoin’s price is up ten times since he tweeted about it last year. He wondered if more people had bought the leading cryptocurrency. Last week, the People’s Bank of China (PBoC) announced that all services that allow fiat currencies to be exchanged with crypto assets or between crypto-assets themselves will now be treated as illegal activities.

This has led numerous crypto companies in China to exit the country. Last week, crypto exchanges Huobi, BitMart and Biki announced that they would stop providing services to mainland China users in a few weeks.

Snowden wants Bitcoin to be more private

Edward Snowden has talked about Bitcoin multiple times in recent years. Earlier this year, at the Ethereal Summit, he stated that Bitcoin needed to become “private by design” to counter efforts against privacy cryptocurrencies like Monero.

He added that

Bitcoin is really failing comprehensively on the privacy angle. Now in 2021, everybody knows there’s a problem when we talk about digital surveillance.


About Author

Post a Comment