Edward Snowden Explains Why the Price of Bitcoin is Rising
ITAR-TASS/Pavel Smertin
Main page News, Bitcoin

Former CIA officer Edward Snowden has said the restrictive measures China has implemented against cryptocurrencies have strengthened Bitcoin.

Snowden has recalled on Twitter a post he made on March 13 last year in which he announced he wanted to buy the crypto for the first time. Since then, the price of Bitcoin has increased nearly 10-fold, despite a global campaign by governments of different countries aimed at undermining public understanding and support for the cryptocurrency, Snowden has said.

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In March 2020, the price of Bitcoin fell to $4,000. Since then, the price of the asset has soared by 1,225%.

The People's Bank of China has previously imposed a complete ban on crypto-related transactions. The use of digital assets in the country is now considered an illegal financial activity. The services offered by cryptocurrency exchanges to Chinese citizens have also been prohibited.

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