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Edward Snowden's Iconic Bitcoin Remark as Berkshire Hathaway Falls 99.97%

A technical glitch at the NYSE caused Berkshire Hathaway's shares to plummet, prompting Edward Snowden to quip "Bitcoin fixes this," highlighting Warren Buffett's past criticism of Bitcoin.

• Main Points:

  • NYSE Glitch: Berkshire Hathaway shares plummet 99.97% due to a technical issue.

  • Crypto Reaction: Crypto enthusiasts mock Buffett’s Bitcoin criticism.

  • Snowden's Comment: Snowden asserts "Bitcoin fixes this."

  • Bitcoin's Volatility: BTC rises above $70,000, and drops to $69,200.

• Detailed Insights:

  • NYSE Glitch:

    A technical glitch at NYSE caused Berkshire Hathaway shares to plunge 99.97%, prompting a trading halt and investigation.

  • Crypto Reaction:

    Crypto fans mocked Buffett's past Bitcoin remarks, pointing out Bitcoin's stability compared to the dramatic stock drop.

  • Snowden's Comment:

    Edward Snowden highlighted Bitcoin’s reliability with the remark, "Bitcoin fixes this."

  • Bitcoin's Volatility:

    Bitcoin surged above $70,000 before dropping to $69,200, demonstrating its typical market volatility. Investors are now closely watching Bitcoin's performance compared to traditional assets.

Related: Warren Buffett: "I'm Confident in US Dollar"

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Sleeping Bitcoins Worth $13.87M Move After 11 Years, Exposing 2013 Whale

A Bitcoin holder from 2013 moved 200 BTC worth $13.87 million after 11 years, revealing a whale with substantial early Bitcoin holdings.

• Main Points:

  • Dormant BTC: 200 BTC, acquired in 2013, moved for the first time in over 11 years.

  • Value Surge: Initially worth around $7,000; now valued at $13.87 million, a 197,785% increase.

  • Whale Discovery: Patterns suggest the owner controls at least 1,000 BTC.

• Detailed Insights:

  • Dormant BTC: On June 3, 2024, a Bitcoin holder moved 200 BTC, acquired between February and March 2013 when BTC was $25-$35. These funds had been untouched for over 11 years.

  • Value Surge: The 200 BTC, originally worth about $7,000, is now valued at $13.87 million, a 197,785% increase.

  • Whale Discovery: The BTC was consolidated into two P2SH wallets. Similar transactions in 2024 suggest the owner has been moving dormant BTC, indicating control over at least 1,000 BTC, worth approximately $69.2 million today. This activity classifies the entity as a Bitcoin whale.

Related: Bitcoin Whales Accumulate Billions Daily: 2021 Bull Run Ahead?

Michael Saylor Settles $40M Tax Evasion Case

Bitcoin advocate Michael Saylor agrees to pay $40 million to settle a tax evasion case with the District of Columbia, marking the district’s largest income tax fraud recovery.

• Main Points:

  • Settlement Agreement: Saylor to pay $40 million.

    Record Recovery: D.C.’s largest tax fraud settlement.

  • Lawsuit Details: Accused of evading $25 million in taxes by falsely claiming residency in lower-tax states.

  • Company Involvement: MicroStrategy is implicated in assisting with tax evasion.

  • Saylor’s Stance: Maintains innocence, claims Florida as a primary residence.

• Detailed Insights:

  • Settlement Agreement: Michael Saylor agrees to a $40 million settlement to resolve tax evasion allegations.

  • Record Recovery: The largest income tax fraud recovery in D.C.'s history.

  • Lawsuit Details: Saylor allegedly evaded $25 million in taxes by falsely claiming residency in Virginia or Florida from 2005 to 2020.

  • Company Involvement: MicroStrategy, Saylor’s company, was implicated in submitting fraudulent tax forms.

  • Saylor’s Stance: Saylor denies the allegations, asserting Florida as his primary residence and stating he settled to avoid further litigation burdens.

Related: Michael Saylor on Bitcoin's Drop Below $68,000

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results