Snowden Backs Bitcoin Amid NYSE Glitch

A technical glitch at the New York Stock Exchange (NYSE) on June 3rd triggered extreme volatility and erroneous pricing for several blue-chip securities, causing trading to temporarily halt. The incident highlighted the fragility that still persists in major financial infrastructure despite safeguards.

Shares of Berkshire Hathaway and Barrick Gold witnessed 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) 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.