Snowden Backs Bitcoin Amid NYSE Chaos
A technical glitch at the New York Stock Exchange (NYSE) on June 3rd triggered extreme volatility and erroneous pricing for several blue-chip securities, bringing trading to a temporary halt. Shares of Berkshire Hathaway and Barrick Gold witnessed dramatic plunges of around 99% in value before the prices were corrected.
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.
In response, 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.