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Bitcoin (CRYPTO: BTC) the price has increased tenfold despite attacks from governments around the world, according to Edward Snowden, CIA agent-turned-whistleblower.
What happened: In a tweet on Sunday, Snowden highlighted the monumental increase in the price of the market-leading cryptocurrency since March 2020.
Sometimes I think back to this and wonder how many people have bought #Bitcoin so.
It has grown about 10 times since, despite a coordinated global campaign by governments to undermine public understanding and support for the cryptocurrency.
China even banned it, but it only made Bitcoin stronger. https://t.co/pbnOFGfaVf
-Edward Snowden (@Snowden) October 3, 2021
Snowden referred to a tweet from March 13, 2020, when Bitcoin crashed by almost 40%, from $ 8,000 to $ 4,900.
Supposedly, this was when the former CIA agent felt the urge to buy Bitcoin again “for the first time in quite some time.” Bitcoin is trading at $ 48,900 this week, which means Snowden and others who invested in the 2020 crash earned at least 900% on their investment.
“It’s about 10 times more since, despite a coordinated global campaign by governments to undermine public understanding and support for cryptocurrency,” Snowden said.
“China even banned it, but it just made Bitcoin stronger.”
Bitcoin fell 6% on September 24, when the People’s Bank of China reiterated the ban on the digital asset.
The cryptocurrency has since recovered 20% of its value, demonstrating its resilience following a government crackdown on some market supporters like Snowden.
Last month, Snowden praised El Salvador’s efforts to adopt Bitcoin as legal tender and warned that latecomers would regret hesitating.
Price action: Bitcoin was trading at $ 48,900, gaining 0.4% over 24 hours.
Photo: Executium on Unsplash.
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