Bitcoin Antifragility Is Rising, Regardless Of Scrutiny, Edward Snowden Claimed

By Shannon Wilson | October 5, 2021

Edward Snowden reportedly believed that Bitcoin (BTC) is becoming less and less fragile, regardless of the amplified scrutiny level, regulation-wise, on crypto globally. 

Specifically, the ex-agent of the US CIA reportedly took to Twitter to share his remarks, claiming that the antifragility nature of Bitcoin has witnessed a rise, amid ongoing authoritative crackdown and anti-crypto legislations. 

Snowden’s tweet reportedly mentioned comments made on March 13th last year, during the throes of the Black Thursday decline, where the crypto and equity markets experienced a dramatic drop, during fears caused by the global health pandemic. 

Snowden reportedly remained unbothered by the decline of Bitcoin, which saw the digital asset losing half its value, claiming that it was the first time he “felt like buying Bitcoin”. 

“It’s up ~10x since, despite a coordinated global campaign by governments to undermine public understanding of—and support for—cryptocurrency”. 

As a matter of fact, 2021 has reportedly seen an increasing number of scrutiny efforts on Bitcoin and crypto, particularly in China, where the Beijing government spent an extensive amount of resources on negative cryptocurrency policies.

 A variety of Bitcoin miners have reportedly moved their operations out of China, setting up their facilities to new offshore locations. The shutdown of crypto mining activity in China even led to a temporary, significant drop in the Bitcoin hash rate.

Bitcoin adoption is reportedly still on the rise, with nation-states even establishing their presence in the sector. El Salvador recently went down in history, being the first nation across the globe to add BTC to the list of viable legal tender – an initiative that could cause ripple effects throughout Central and South America.

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