Edward Snowden Anticipates Government Acquisition of Bitcoin in 2024

Renowned whistleblower Edward Snowden has made a bold prediction on X today, suggesting that a national government will enter the Bitcoin market this year by purchasing BTC.

JUST IN: Edward Snowden predicts "A national government will be revealed this year to have been buying #Bitcoin without having disclosed that fact publicly." pic.twitter.com/ECauNV3DvA

— Bitcoin Magazine (@BitcoinMagazine) February 28, 2024

“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,” Snowden stated.

Snowden’s prediction comes amid increasing institutional, retail, and nation state interest in Bitcoin, with several major corporations and investment firms allocating significant resources to the asset. While Snowden did not specify which government he believes will make the purchase, the prospect of a second national government acquiring Bitcoin and making it legal tender, like El Salvador did in 2021, would represent another huge milestone for Bitcoin.

Earlier today, El Salvador President Nayib Bukele commented on Bitcoin’s recent price increase, stating “When Bitcoin’s market price was low, they wrote literally thousands of articles about our supposed losses. Now that Bitcoin’s market price is way up, if we were to sell, we would make a profit of over 40% (just from the market purchases), and our main source of BTC is now our citizenship program. We won’t sell, or course; at the end 1 BTC = 1 BTC (this was true when the market price was low and it’s true now); but it’s very telling that the authors of those hit pieces, the “analysts”, the “experts”, the “journalists”, are totally silent now.”

El Salvador’s bet on Bitcoin has appeared to pay off, not just from the perspective of their BTC investments increasing in value, but also from attracting large amounts of tourism from Bitcoiners and investment in the country. Other countries may be taking notice of what Bitcoin has done for El Salvador, and may want the same.

As Snowden’s prediction garners attention, it underscores the growing mainstream recognition of Bitcoin’s role in the global economy and its potential to reshape traditional financial systems.

Credit: Source link