Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Former Subcontractor with the Central Intelligence Agency and whistle blower of the CIA Edward Joseph Snowden has taken to Twitter in response to the recent China crackdown on the cryptocurrency ecosystem.
Snowden, a Journalist and former intelligence consultant who is also a vocal supporter of crypto, said that the action of the Chinese government and the world at large on crypto currency has been futile and has gradually increased the adoption of the said asset.
Sometimes I think back to this and wonder how many people bought #Bitcoin then. It's up ~10x since, despite a coordinated global campaign by governments to undermine public understanding of—and support for—cryptocurrency. China even banned it, but it just made Bitcoin stronger, Snowden’s tweet states.
China has been the world's largest mining and trading centre for cryptocurrency. The September Bitcoin mining revenue hitched up as Miners made profits of $40M per day smiling through the month of september. However, the recent clampdown on crypto mining in May has made the Chinese ecosystem difficult for digital currency firms to thrive. The market seems unperturbed though as the prices of Bitcoin and ethereum are rising with Bitcoin currently at $47,820and Ethereum at $3,367.
The journalist also said that the coordinated global campaign against cryptocurrency to prevent the public from understanding and supporting digital currency has made the asset rise up 10 times as much since making Bitcoin stronger.
The crypto industry has also seen highly optimistic and bullish comments from various proponents with the recent one coming from Jack Mallers, the founder and CEO of Strike. The CEO while speaking with CNN’s Julia Chaterlay stated that he is confident that Bitcoin, the largest of all cryptocurrencies by Market capitalization, was going to at least get to the price of $100,000 by the end of the year 2021.
Author Bio
I am a crypto and blockchain technology fan with a love for writing to enlighten others about the revolution. This I do by writing news stories to bring the latest developments to my readers and help them stay informed about the most recent developments in the space at all times.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.