Kim Dotcom, the founder of Megaupload, the world's largest data download site, said that the "big crash" in the market will help cryptocurrencies contrary to popular belief. Cryptocurrency markets fell sharply on Friday after selling pressure. Bitcoin (BTC) is down nearly 4% to $21,130. This is the lowest level in three weeks.
Declaring himself an 'Internet freedom fighter', Kim Dotcom claimed on Twitter that “a major collapse is required for cryptocurrencies to become mainstream thanks to their use instead of speculation.” Noting that in such a case, strong projects would survive, the entrepreneur said that the market would be freed from its chains and that the most important He underlines that it will be adopted on a global scale thanks to the decentralization that is its characteristic.
Following the positive inflation data, Bitcoin (BTC) surged above $25,000 for the first time since its mid-June low of $17,500, aided by the rally in equities. Last month, Ethereum doubled its price to over $2,000, thanks to its update scheduled for September 15.
Kim Dotcom has previously said that the US economy is "on the verge of bankruptcy". He is also very pessimistic about the future of the global economy. At one point, Kim Dotcom pointed out an impending "New World Order." Expressing that elites and those who control money have established a new system, the activist said that this process poses a great risk for countries and their economies.
Kim Dotcom also urged its 860,000 Twitter followers to buy Bitcoin (BTC). The entrepreneur believes that the US dollar will become worthless and the economy will collapse. According to Kim Dotcom, cryptocurrencies will gain more importance in an order where authoritarian regimes proliferate. Cryptocurrencies will replace traditional finance. Nothing can stop this revolution.