Edward Snowden Highlights Bitcoin's Stability Amid NYSE Glitch

Edward Snowden, the famous whistleblower and advocate for privacy, recently brought attention to cryptocurrencies' benefits, pointing to Bitcoin as a solution in light of a technical malfunction on the New York Stock Exchange (NYSE).

Incident at the NYSE

The NYSE encountered a technical issue that caused an unexpected halt in trading for several stocks, including a dramatic drop in shares for Berkshire Hathaway, which saw its value plummet by 99.7%. This technical anomaly spotlighted the fragility of traditional financial infrastructures.

Snowden's Response

In reaction to the NYSE's troubles, Snowden took to social media, remarking "Bitcoin fixes this" – a common phrase among cryptocurrency advocates citing the digital currency's robustness against traditional financial system faults.

Snowden's commentary serves to underscore the reliability of the Bitcoin network, which boasts a remarkable 99.99% uptime historical record, with only two brief downtimes, the last being over a decade ago.

Bitcoin in Centralized Markets

Despite Bitcoin's inherent stability, it's important to note that the majority of Bitcoin trading occurs on centralized platforms like Binance and Coinbase, which have experienced outages, including a notable downtime affecting Coinbase for three hours last month.

Snowden and the Cryptocurrency Sphere

Edward Snowden has long been an advocate for cryptocurrencies, earlier heralding Bitcoin as a vital development in monetary technology. His recent comments may hold particular weight, considering Warren Buffett's previous criticisms of Bitcoin, emphasizing contingency during unexpected stock market events.

Current Bitcoin Market

The value of Bitcoin seems resilient amidst these discussions, recently trading at $69,270.27, marking a slight increase over the past 24 hours.

Snowden, Bitcoin, NYSE