Edward Snowden, the whistleblower behind the NSA surveillance revelations has commented on the valuation of bitcoin (BTC) amid the recent crypto crackdown from the Chinese authorities.
<h2><strong>Edward Snowden Believes China Ban Made Bitcoin Stronger</strong></h2>
Edward Snowden, a former computer intelligence <a href="https://www.cryptoknowmics.com/news/6-trillion-stimulus-is-good-for-bitcoin-says-edward-snowden/">consultant</a> for the U.S. National Security Agency who leaked highly classified intelligence about the government’s mass surveillance programs believes China’s cryptocurrency ban has strengthened Bitcoin.

Quote <a href="https://twitter.com/Snowden/status/1444794906967486469" target="_blank" rel="nofollow noopener">tweeting</a> a previous tweet about buying Bitcoin back in March 2020 after the flagship cryptocurrency crashed more than 50 percent on “Black Thursday,” he said:
<blockquote><em>“Bitcoin is up 10% since, despite a coordinated global campaign by governments to undermine public understanding of and support for cryptocurrency.”</em></blockquote>
According to him, Bitcoin has experienced a ten-fold increase since then despite “a coordinated global campaign” to undermine the growth of cryptocurrencies.

This is not the first time Snowden has opined about Bitcoin. Earlier this year, the infamous whistleblower opined on the cryptocurrency’s perceived lack of privacy, saying Bitcoin needed to become “private by design” to counter efforts against “privacy coins” like <a href="https://www.cryptoknowmics.com/news/monero-announces-bitcoin-atomic-swaps-are-live-on-mainnet/">Monero</a>.

“Bitcoin is really failing comprehensively on the privacy angle. Now in 2021, everybody knows there’s a problem when we talk about digital surveillance,” Snowden told digital privacy advocate Marta Belcher.
<h2><strong>China Declared Crypto Trading Illegal</strong></h2>
China initially banned cryptocurrency trading as early as 2017. Earlier this year, the government imposed a specific ban on crypto mining over reducing carbon emissions. Last month, the government published a notice declaring that cryptocurrency trading will be deemed illegal.
<blockquote><em>“Recently, virtual currency trading hype activities have risen, disrupting economic and financial order, breeding illegal and criminal activities such as gambling, illegal fundraising, fraud, pyramid schemes, and money laundering.” </em></blockquote>
The government’s update hit Bitcoin hard, with the flagship cryptocurrency’s price falling by almost 5% to $41,000 within an hour of the news breaking. Since then, Bitcoin (BTC) has recovered to a price of $47,600.

China's Crypto Ban Has Made Bitcoin Even Stronger: Edward Snowden

Edward Snowden, the whistleblower behind the NSA surveillance revelations has commented on the valuation of bitcoin (BTC) amid China's crypto crackdown.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

China's Crypto Ban Has Made Bitcoin Even Stronger: Edward Snowden

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