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Edward Snowden: China crypto ban will make Bitcoin (BTC) even stronger

Mon 04 Oct 2021 ▪ 11h32 ▪ 2 min read — by Hugh Renolds

Edward Snowden, former CIA and NSA officer who happens to be one of the most active members of the crypto community, tweeted that China not only cannot defeat Bitcoin but will actually make it stronger.

What makes crypto strong if not believing in its strength

CIA informant and well-known journalist Edward Snowden commented on his own tweet from a year ago and said that the ban on cryptocurrencies in China would only make Bitcoin stronger.

Ever since last year’s crash of the first cryptocurrency, BTC has grown in value tenfold, according to Snowden. And all this happened against the backdrop of the futile attempts of governments to combat digital assets. The journalist also believes that the current confrontation between the Chinese authorities and Bitcoin will lead to BTC becoming even stronger than ever before.

In conclusion

Despite consistent repressions, at the beginning of the fourth quarter, which is traditionally positive for digital assets, Bitcoin is showing bullish growth. In the first four days of October, BTC has already grown by about 10%.

According to the Coingape portal, even despite the September correction, the revenue of Bitcoin miners greatly increased over the last month and is now about $40 million (~£29.5 million) million per day.

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Hugh Renolds avatar
Hugh Renolds

I believe in the bright future of crypto. I have been investing since 2017 and look to share my experience in, and thoughts on, crypto and the blockchain.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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