Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Edward Snowden: Bitcoin Unaffected By Government Crackdowns, If Anything It's Become Stronger

Edward Snowden: Bitcoin Unaffected By Government Crackdowns, If Anything It's Become Stronger

The whistleblower Edward Snowden has been vocal about Bitcoin's ability to survive governments' increasing regulatory scrutiny on cryptocurrencies around the world.

On Sunday, the ex-CIA employee tweeted that Bitcoin has gotten stronger on the back of government bans and anti-crypto policies.

He referenced an earlier tweet from March 13, 2020, amid the throes of the Black Thursday decline that saw crypto and equity markets tank amid fears of the coronavirus pandemic.

Snowden was unshaken by Bitcoin’s 50% drop, saying that it was the first time in a while he “felt like buying Bitcoin.”

His latest tweet read:

“It’s up ~10x since [March 13, 2020], despite a coordinated global campaign by governments to undermine public understanding of—and support for—cryptocurrency.”

On the Black Thursday crash of March 2020, BTC dropped to $3,800 but has since gone on to set a new all-time high of about $64,800.

At the time of writing Bitcoin is trading above $47,850, which is more than 12 times since Snowden’s tweet back in March 2020.

2021 has been a year of crypto crackdowns, led by US and China.

Several Bitcoin miners have exited China, moving their hardware to locations overseas. The shutdown of crypto mining activity in China even temporarily caused a massive decline in the Bitcoin hash rate.

Anti-Bitcoin sentiments also seem rife in Washington, with some members of Congress espousing negative rhetoric about cryptocurrencies while also calling for stricter laws.

Regulators such as Gary Gensler, chairman of the U.S. Securities and Exchange Commission, have also pushed for more stringent cryptocurrency laws that critics say could derail digital innovation in America.

While the big boys play politics, Bitcoin adoption continues to grow, and small nation-states are even getting into the mix. El Salvador recently made history as the first country to accept BTC as legal tender in a move that could have significant implications across Central and South America.

Another significant event was Ukraine’s parliament approving law making Bitcoin payments legal in the East European nation.

Snowden has even previously commented on El Salvador’s Bitcoin Law, stating that other nations could become incentivized to accept BTC as a reserve asset, which now seems to be the case.

Source: Edward Snowden: Bitcoin Unaffected By Government Crackdowns – Fintechs.fi

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
UK's Online Safety Law: A Front for Censorship
Parents Abandon Child at Barcelona Airport Over Passport Issue
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
China Enforces Comprehensive Ban on Cryptocurrency Activities
Grok 4 Video plus Voice, can identify wildlife!
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
The UK Does Not Have a ‘Far-Right’ Problem
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
JD Vance Warns Europe Faces “Civilizational Suicide” Over Open Borders and Speech Limits
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
House Republicans Move to Defund OECD Over Global Tax Dispute
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
Intel Reports Revenue Beats but Sees 81% Rise in Losses
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
CEO Resigns Amid Controversy Over Relationship with HR Executive
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
Tulsi Gabbard Unveils Evidence Alleging Political Manipulation of Intelligence During Trump Administration
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Trump Announces Coca-Cola to Shift to Cane Sugar in U.S. Production
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Air India Pilot’s Mental Health Records Under Scrutiny
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
Moonshot AI Unveils Kimi K2: A New Open-Source AI Model
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
×