Edward Snowden, a legendary NSA whistleblower, spoke in favour of bitcoin as a tool that solves all the problems of the global financial system. That was his response to the disaster that occured on the New York Stock Exchange (NYSE).
A technical glitch at NYSE on Monday, June 3rd, triggered extreme volatility and erroneous pricing for several blue-chip securities, bringing trading to a temporary halt. The incident has reignited discussions around the robustness of traditional financial systems compared to decentralized alternatives like Bitcoin.
During the turmoil, shares of Warren Buffett's Berkshire Hathaway and mining giant 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.
