Edward Snowden believes crypto winters separate the scams from the legitimate uses.

June 22, 2022

“The only people that remain are the people that are using these networks functionally,” Edward Snowden said at TNW Conference 2022.

The famous whistleblower said about the ongoing market crash that only people who are there for the long term will remain.

Talking about bitcoin, Snowden said that the cryptocurrency’s pseudonymity and utility persist through market fluctuations.

“It still works whether the price is $60,000 or whether the price is $6,” Snowden said.

Talking about cryptocurrency as investments, Snowden said, “How is that going to happen if no one is actually using these things functionally?”

According to the former NSA and CIA contractor, the current crash provides an unusual opportunity to reset a sector.

“It’s like a forest fire; when the ground has been cleared, things will grow again.” ~ Edward Snowden.