Snowden: NYSE Glitch Proves Need for Decentralized Bitcoin

On June 3rd, a technical glitch at the New York Stock Exchange (NYSE) caused extreme volatility and erroneous pricing for several blue-chip securities. The incident led to trading being temporarily halted.

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 responded on X (formerly Twitter), saying 'Bitcoin fixes this.'