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Edward Snowden Says A Country is Secretly Buying Bitcoin

Last Updated February 29, 2024 9:57 AM
Teuta Franjkovic
Last Updated February 29, 2024 9:57 AM
By Teuta Franjkovic
Verified by Peter Henn

Key Takeaways

  • Snowden predicts national government Bitcoin purchase.
  • El Salvador’s Bitcoin investment shows profit.
  • Bitcoin adoption benefits extend beyond market gains.

In a forecast shared  on Twitter, whistleblower Edward Snowden predicts 2024 will see a national government acquire Bitcoin (BTC).

This bold assertion  highlights a potential turning point in the adoption of digital currencies by sovereign states, signaling a growing recognition of Bitcoin’s value on a governmental level.

Edward Snowden Foresees National Government BTC Investment 

Edward Snowden’s prediction  emerges at a time when Bitcoin is witnessing heightened interest from various sectors, including institutional investors, retail participants, and even nation-states, with numerous prominent companies making investments to the cryptocurrency.

Although Snowden did not pinpoint which national government he anticipates will engage in Bitcoin acquisition, another country following El Salvador’s lead would mark another step in Bitcoin’s journey towards mainstream acceptance.

Snowden said:  “Prediction: A national government will be revealed this year to have been buying Bitcoin—the modern replacement for monetary gold—without having disclosed that fact publicly,”

Nayib Bukele Highlights Profit Potential Amid BTC’s Price Surge

In response to Bitcoin’s recent surge, El Salvador’s President, Nayib Bukele, spoke about the country’s BTC investment.

He pointed out  that critics previously focused extensively on El Salvador’s potential losses when Bitcoin’s value was lower. Now, however, with the price significantly higher, the country stands to profit more than 40% from its purchases.

Bukele emphasized  El Salvador’s primary Bitcoin acquisition method is through its citizenship program. Despite the potential for profit, he affirmed the country’s commitment to holding onto its Bitcoin assets. He underscored the constancy of Bitcoin’s value , stating “1 BTC = 1 BTC”. This highlights its value regardless of market fluctuations, while noting the silence of earlier critics in the bull market.

El Salvador Reaps Rewards from BTC Strategy Beyond Investment Gains

El Salvador’s strategic embrace of Bitcoin has yielded benefits, extending well beyond BTC’s mere rise in value. The country has experienced a surge in tourism, particularly from Bitcoin enthusiasts. Not only that, but there is also an influx of investments attributed to its cryptocurrency adoption.

This could be catching the eyes of other nations, contemplating the potential uplift Bitcoin could bring to their own economies. As the prediction by Edward Snowden gains traction, it highlights the increasing acceptance of Bitcoin within the mainstream financial landscape and its capacity to revolutionize conventional economic frameworks.

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