Snowden Praises Bitcoin Amid NYSE Chaos: 'Bitcoin Fixes This'
On June 3rd, a technical glitch at the New York Stock Exchange (NYSE) triggered extreme volatility and erroneous pricing for several blue-chip securities, temporarily halting trading. The incident saw shares of Berkshire Hathaway and Barrick Gold plummet by 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 to the incident on X (formerly Twitter) by simply stating 'Bitcoin fixes this' - a nod to Bitcoin's decentralized design as a more reliable alternative to traditional centralized exchanges vulnerable to such disruptions.