Snowden Reveals ‘Unpopular But True’ Opinion On Bitcoin
In a recent statement shared on X (formerly Twitter), Edward Snowden, the former National Security Agency contractor and whistleblower, hailed Bitcoin as “the most significant monetary advance since the creation of coinage.” Snowden, known for his 2013 leak of NSA documents that exposed the extent of global surveillance programs, has been a vocal commentator on privacy, security, and now, the implications of BTC for financial autonomy and privacy.
Snowden’s assertion emphasizes BTC’s revolutionary role in the history of money, suggesting that its decentralized, digital nature represents a fundamental shift away from traditional, physical forms of currency and centralized financial control.
His statement, “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,” underscores a firm belief in Bitcoin’s value proposition, despite acknowledging its controversial reception among critics and skeptics.
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
Snowden Recognizes Bitcoin As Digital Gold
Snowden’s recent praise for BTC is not an isolated instance. Over time, he has consistently demonstrated a keen interest in Bitcoin on X, frequently sharing his thoughts on the cryptocurrency. For instance, during the Super Bowl, he quipped, “Everybody watching the #SuperBowl and here I am watching the Bitcoin chart,” showcasing his keen interest in the cryptocurrency’s market dynamics.
His observations have also touched upon regulatory milestones, such as the approval of spot ETFs in the United States. Prior to their launch, Snowden noted, “Bitcoin ETFs were (finally) just approved for trading tomorrow, after ten years. Maybe the politics in Congress around cryptocurrency will get better once they realize it’s backstopping pension funds and retirement accounts.”
Following the ETF launch, Snowden commented on the shifting attitudes of financial executives towards BTC, illustrating the impact of regulatory acceptance on BTC’s mainstream credibility. “Wild how the SEC approving a Bitcoin ETF was all it took to transform the CEO of JP Morgan from the King of Money into that guy who spends one half of every interview insisting ‘I don’t care about BTC,’ and the other half sobbing that it stole his wife and shot his dog,” he stated.
Moreover, Snowden has drawn comparisons between BTC and traditional assets, stating in June 2022, “Gold is just Bitcoin that can’t be sent over the internet,” highlighting its unique advantages as a digital asset. His reflections extend to global financial crises, as seen in his response to Lebanon’s 90% currency devaluation in February 2023, where he implied, “*whispers* Bitcoin fixes this,” suggesting its potential role in mitigating economic instability.
Despite his endorsements, Snowden has not shied away from critiquing the premier cryptocurrency, particularly regarding its privacy features. In November 2021, he praised Zcash for advancing the privacy capabilities of cryptocurrency while critiquing BTC’s failure to address this. “My primary criticism of Bitcoin is still, so many years later, that they haven’t addressed its enormous on-chain privacy problem,” Snowden remarked.
At press time, BTC traded at $52,347.
Featured image from CNN, chart from TradingView.com
