Edward Snowden sees China’s crackdown as a plus for bitcoin

October 15, 2021

Edward Snowden sees China's crackdown as a plus for bitcoin

Former US National Security Agency and CIA official Edward Snowden said China's crackdown on the cryptocurrency industry "has only strengthened bitcoin".

Sometimes I think back to this and wonder how many people bought #Bitcoin then. It's up ~10x since, despite a coordinated global campaign by governments to undermine public understanding of—and support for—cryptocurrency. China even banned it, but it just made Bitcoin stronger.

Snowden retweeted his own post from March 2020 about wanting to buy the first cryptocurrency and noted the asset's tenfold growth since then.

"Since then, it [bitcoin] has grown about 10 times, despite a coordinated global campaign by governments to undermine public understanding and support for cryptocurrencies," Snowden wrote.

Earlier, Rabelani Dagada, a professor at the University of Johannesburg in South Africa, called resistance to the development of digital assets futile. In his opinion, banning cryptocurrencies threatens innovation.

Recall that Republican Senator Pat Toomey said that opposition to digital assets by Chinese authorities opens up new opportunities in the US crypto-industry.

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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