Famend whistleblower Edward Snowden has made a daring prediction on X at present, suggesting {that a} nationwide authorities will enter the Bitcoin market this yr by buying BTC.
JUST IN: Edward Snowden predicts "A nationwide authorities shall be revealed this yr to have been shopping for #Bitcoin with out having disclosed that reality publicly." pic.twitter.com/ECauNV3DvA
— Bitcoin Journal (@BitcoinMagazine) February 28, 2024
“Prediction: A nationwide authorities shall be revealed this yr to have been shopping for Bitcoin—the trendy substitute for financial gold—with out having disclosed that reality publicly,” Snowden said.
Snowden’s prediction comes amid growing 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 signify one other large milestone for Bitcoin.
Earlier at present, El Salvador President Nayib Bukele commented on Bitcoin’s current value improve, stating “When Bitcoin’s market value was low, they wrote actually 1000’s of articles about our supposed losses. Now that Bitcoin’s market value is method up, if we had been to promote, we might make a revenue of over 40% (simply from the market purchases), and our primary supply of BTC is now our citizenship program. We received’t promote, or course; on the finish 1 BTC = 1 BTC (this was true when the market value was low and it’s true now); but it surely’s very telling that the authors of these hit items, the “analysts”, the “specialists”, the “journalists”, are completely silent now.”
El Salvador’s wager on Bitcoin has appeared to repay, not simply from the angle of their BTC investments growing in worth, but additionally from attracting massive quantities of tourism from Bitcoiners and funding within the nation. Different international locations could also be taking discover of what Bitcoin has completed for El Salvador, and might want the identical.
As Snowden’s prediction garners consideration, it underscores the rising mainstream recognition of Bitcoin’s position within the international economic system and its potential to reshape conventional monetary programs.
