Edward Snowden Says 'Unpopular But True' That Bitcoin Is 'Most Significant' Monetary Advance Since Coinage Created
Portfolio Pulse from Benzinga Neuro
Edward Snowden, the former NSA contractor, has expressed strong support for Bitcoin, calling it the most significant monetary advancement since the invention of coinage. He shared his views on X, emphasizing Bitcoin's importance despite its controversial nature. Snowden's endorsement comes as Bitcoin experiences a significant rally, with a 23% increase since the start of 2024 and reaching a 26-month high of $52,000. This surge is attributed to strong inflows into spot ETFs, with Bitcoin ETFs averaging over $1.8 billion in volume per day in early February. Snowden has previously highlighted the potential of Bitcoin ETFs and criticized figures like JP Morgan CEO Jamie Dimon for their skepticism towards Bitcoin. His recent comments underscore his belief in the transformative potential of cryptocurrencies.
February 19, 2024 | 3:26 am
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Edward Snowden's strong endorsement of Bitcoin as a significant monetary advancement and his critique of skeptics like JP Morgan's CEO could bolster investor confidence in Bitcoin, potentially influencing its short-term price positively.
Snowden's endorsement, especially during a period of significant price rally and increased ETF activity, could enhance investor sentiment and attract more attention to Bitcoin. His influence and the timing of his comments, amidst a strong market performance, could contribute to a positive short-term impact on Bitcoin's price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90