Friday, March 1, 2024

Edward Snowden Anticipates Authorities Acquisition of Bitcoin in 2024

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Famend whistleblower Edward Snowden has made a daring prediction on X at the moment, suggesting {that a} nationwide authorities will enter the Bitcoin market this yr by buying BTC.

“Prediction: A nationwide authorities can be revealed this yr to have been shopping for Bitcoin—the trendy substitute for financial gold—with out having disclosed that truth publicly,” Snowden acknowledged.

Snowden’s prediction comes amid rising institutional, retail, and nation state curiosity in Bitcoin, with a number of main firms and funding companies allocating important sources to the asset. Whereas Snowden didn’t specify which authorities he believes will make the acquisition, the prospect of a second nationwide authorities buying Bitcoin and making it authorized tender, like El Salvador did in 2021, would symbolize one other large milestone for Bitcoin.

Earlier at the moment, El Salvador President Nayib Bukele commented on Bitcoin’s latest worth enhance, stating “When Bitcoin’s market worth was low, they wrote actually 1000’s of articles about our supposed losses. Now that Bitcoin’s market worth is method up, if we have been to promote, we’d make a revenue of over 40% (simply from the market purchases), and our major supply of BTC is now our citizenship program. We gained’t promote, or course; on the finish 1 BTC = 1 BTC (this was true when the market worth was low and it’s true now); however it’s very telling that the authors of these hit items, the “analysts”, the “consultants”, the “journalists”, are completely silent now.”

El Salvador’s guess on Bitcoin has appeared to repay, not simply from the attitude of their BTC investments rising in worth, but in addition from attracting giant quantities of tourism from Bitcoiners and funding within the nation. Different nations could also be taking discover of what Bitcoin has finished for El Salvador, and might want the identical.

As Snowden’s prediction garners consideration, it underscores the rising mainstream recognition of Bitcoin’s function within the world economic system and its potential to reshape conventional monetary techniques.

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