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Famend whistleblower Edward Snowden has made a daring prediction on X at this time, suggesting {that a} nationwide authorities will enter the Bitcoin market this yr by buying BTC.
JUST IN: Edward Snowden predicts "A nationwide authorities will likely 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 will likely be revealed this yr to have been shopping for Bitcoin—the fashionable 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 companies and funding companies allocating vital 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 symbolize one other large milestone for Bitcoin.
Earlier at this time, El Salvador President Nayib Bukele commented on Bitcoin’s current worth enhance, stating “When Bitcoin’s market worth was low, they wrote actually 1000’s of articles about our supposed losses. Now that Bitcoin’s market worth is method up, if we have been to promote, we might make a revenue of over 40% (simply from the market purchases), and our foremost 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 worth was low and it’s true now); however it’s very telling that the authors of these hit items, the “analysts”, the “specialists”, the “journalists”, are completely silent now.”
El Salvador’s guess 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 nations could also be taking discover of what Bitcoin has achieved for El Salvador, and might want the identical.
As Snowden’s prediction garners consideration, it underscores the rising mainstream recognition of Bitcoin’s function within the world financial system and its potential to reshape conventional monetary techniques.
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