Benzinga - Edward Snowden, the renowned former National Security Agency contractor, expressed his unwavering support for Bitcoin (CRYPTO: BTC), calling it the most significant monetary advancement since the invention of coinage.
What Happened: On Sunday, Snowden took to X, formerly Twitter, to voice his views on the apex cryptocurrency. His post read, “Unpopular but true: Bitcoin is the most significant monetary advance since the creation of coinage. If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”
Unpopular but true: Bitcoin is the most significant monetary advance since the creation of coinage.If you don't believe me or don't get it, I don't have time to try to convince you, sorry.
— Edward Snowden (@Snowden) February 18, 2024
This endorsement from Snowden is not the first of its kind. In the past, he has shown significant interest in Bitcoin and has frequently voiced his opinions on the subject.
See Also: Donald Trump Sold $2.4 Million In ETH Last Month, Missed Out On $500,000 In Potential Profit
Why It Matters: Notably, Snowden’s comments come at a time when Bitcoin has been rallying, the cryptocurrency has surged almost 23% since 2024 began. BTC hit a 26-month high of $52,000 recently driven by strong inflows thanks to spot ETFs.
Market analytics platform, Santiment, noted that Bitcoin ETFs have been averaging over $1.8 billion in volume per day through the first 15 days of February.
In a previous statement, Snowden emphasized the potential of computers as tools of liberation, particularly in the context of Bitcoin ETFs’ historic approval by the Securities and Exchange Commission.
Additionally, Snowden took a dig at JP Morgan CEO Jamie Dimon following the SEC’s approval of a Bitcoin ETF, highlighting the growing relevance and acceptance of Bitcoin in the financial world.
Furthermore, Snowden’s call to “Fix the money, fix the state” amidst SEC lawsuits against cryptocurrency exchanges, underscores his belief in the transformative potential of cryptocurrencies like Bitcoin.
Finally, Snowden’s public declaration of his interest in the Bitcoin chart during the Super Bowl LVIII further demonstrates his continued fascination with this decentralized digital currency.
Price Action: On Sunday evening, at the time of publishing, Bitcoin traded nearly 1.5% higher at $52,107.61, according to Benzinga Pro data.
Photo Courtesy: Wikimedia Commons
Read Next: MicroStrategy Joining S&P 500 Could Result In Bitcoin ‘Automatically Infiltrating Nearly Every Portfolio,
Engineered by Benzinga Neuro, Edited by
Shivdeep Dhaliwal
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you.
Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.