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China Crackdown Only Strengthened Bitcoin Says Edward Snowden

A recent tweet from whistleblower Edward Snowden has highlighted the resilient nature of Bitcoin (BTC) despite the pressure to lessen its significance. 

Although it seems like the whole world is joining forces in a campaign against Bitcoin (BTC), it has only contributed to adding to its strength, according to a tweet posted by Edward Snowden. 

China’s most stringent cryptocurrency ban has only strengthened Bitcoin (BTC), stated the former National Security Agency contractor who disclosed highly classified papers regarding the US government surveillance operations.

Bitcoin’s hashrate has recovered completely since the Chinese authorities shut down practically all cryptocurrency mining operations in May. On October 3, the price of Bitcoin (BTC) topped the $49,000 threshold.

After the leading cryptocurrency dropped more than 50% on a Black Thursday, Snowden, who was granted permanent citizenship in Russia in October of 2020, tweeted about buying Bitcoin (BTC) in March of that same year.

Despite what appears to be a planned global operation to stifle Bitcoin (BTC) growth, Snowden claims that the cryptocurrency has grown ten times bigger since, and hence, these attempts, if anything, are contributing to the growth and resilience of the crypto giant.

Even though it appears as if governments will have no choice but to cave in as Bitcoin (BTC), as Phoenix rises from the ashes, Snowden says that cryptocurrencies are still not off the hook. 

Snowden pointed out that governments just might decide to simply ban Bitcoin (BTC) much like they did gold, in a reply to a user that said governments are just buying time until the inevitable eventually comes.

Also read: Cardano ($ADA) Backed DeFi Platform Will Release Gold-Backed Stablecoin

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