China’s Ban Made Bitcoin Even Stronger, Says Edward Snowden

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The popular whistleblower Edward Snowden has joined the list of people believing that the Chinese ban on Bitcoin will actually benefit the cryptocurrency. He also recently wrote about BTC’s price, which is roughly 10x higher than the last time he did.

The Chinese Ban is Good for Bitcoin

Although the world’s most populated nation has been against the cryptocurrency industry for almost a decade, the country took its hostile stance a step further this year. Back in May, it reiterated its ban but also intensified it by going after miners, many of whom had to close their services or relocate to other, more friendly environments.

Later in September, China’s central bank also prohibited all local organizations from dealing with companies associated with the digital asset space. Somewhat expectedly, these developments led to short-term price drops for BTC and the rest of the market, even though they are not exactly new.

Edward Snowden, perhaps the most famous whistleblower of our generation, weighed in on the matter. He took it to Twitter to indicate that this Chinese ban has “just made Bitcoin stronger.”

 

Snowden also spoke about the price movements for BTC since last March when it dipped below $4,000 during the COVID-19-induced market crash. Back then, he tweeted about buying more portions of the asset as this 50% daily drop was “too much panic and too little reason.”

Being more than 10x up since then is an impressive milestone of its own, especially given the fact that BTC was banned (again) in China within this timeframe.

Thus, the number of people believing that the Chinese ban would actually benefit bitcoin continues to increase, with some even asserting that other nations, like the US, could take advantage of this.

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