Edward Snowden Says He's Watching The Bitcoin Chart While Everyone Else Is Glued To The Super Bowl Game
Portfolio Pulse from Mehab Qureshi
Edward Snowden, known for his critical views on privacy and government surveillance, expressed his interest in the Bitcoin market over the Super Bowl LVIII, highlighting his focus on the cryptocurrency's chart. This year's Super Bowl lacked advertisements from major crypto firms, a departure from previous years. Jack Dorsey, co-founder of Twitter and Block Inc, made a subtle nod to Bitcoin by wearing a 'Satoshi' sweatshirt at the event. Bitcoin's value saw a significant increase, reaching over $48,000, coinciding with the Lunar New Year celebrations in Asia. The cryptocurrency market has seen a surge in investment, particularly in BTC Exchange Traded Funds (ETFs), which have attracted over a billion dollars, indicating a rising demand for Bitcoin. Notably, U.S. Spot Bitcoin ETFs experienced a substantial influx of funds, contrasting with the reduced outflows from GrayScale's Bitcoin Trust.
February 12, 2024 | 3:58 am
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Bitcoin's value surged past $48,000 during the Super Bowl, marking a one-month high amid increased investment in BTC ETFs and reduced selling pressure.
The increase in Bitcoin's value to over $48,000, coupled with significant investment activity in BTC ETFs and the reduced selling pressure, indicates a strong demand for Bitcoin. This surge is likely to positively impact Bitcoin's short-term price direction, as the market sentiment appears bullish, especially with the notable net incoming of funds to U.S. Spot Bitcoin ETFs and the reduced outflows from GrayScale's Bitcoin Trust.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100