Snowden Backs Bitcoin After NYSE Glitch Triggers Market Mayhem

On June 3rd, a technical glitch at the New York Stock Exchange (NYSE) caused extreme volatility and erroneous pricing for several blue-chip securities. Shares of Warren Buffett's Berkshire Hathaway and mining giant Barrick Gold saw dramatic plunges of around 99% in value before prices were corrected.

Berkshire's stock, normally trading above $622,000, briefly collapsed to just $185 per share due to the glitch. The NYSE attributed the chaos to issues with circuit breaker mechanisms designed to curb excessive volatility during market hours.

NSA whistleblower Edward Snowden took to X (formerly Twitter) in response, stating 'Bitcoin fixes this' - an apparent endorsement of Bitcoin's decentralized design as a more reliable alternative to traditional centralized exchanges vulnerable to such disruptions.