Snowden Backs Bitcoin Amid NYSE Chaos
The New York Stock Exchange (NYSE) experienced a technical glitch on Monday, June 3rd, causing extreme volatility and erroneous pricing for several blue-chip securities. The incident led to trading being temporarily halted as shares of Warren Buffett's Berkshire Hathaway and mining giant Barrick Gold witnessed dramatic plunges in value.
Berkshire's stock, which normally trades 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) and simply stated 'Bitcoin fixes this' - an apparent endorsement of Bitcoin's decentralized design as a more reliable alternative to traditional centralized exchanges vulnerable to such disruptions.