Well-known whistleblower Edward Snowden claims that a national government purchased Bitcoin (BTC) without disclosing it publicly. Snowden, the whistleblower behind the Prism Gate scandal, stated that he expects sovereign governments to continue purchasing Bitcoin and using it as an alternative to traditional gold reserves.

Edward Snowden made the bold prediction on social media platform X, making the comments amid growing interest from retailers, institutional investors and governments in Bitcoin, the world’s largest cryptocurrency. Interest has increased significantly since the approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission in January.

“Prediction: A national government will be revealed this year to have purchased Bitcoin – the modern replacement for monetary gold – without publicly disclosing it.”

There is no clear indication of which government Snowden is talking about. However, based on his past whistleblowing activities, he could be talking about the United States, which owns a significant but well-known supply of Bitcoin. Snowden says the government behind the secret purchases of Bitcoin will be revealed later this year, but has strictly labeled his comments as a prediction.

Snowden’s comments come at a time when more and more governments and major institutions are actively exploring the possibilities of cryptocurrencies and blockchain technology. The growing interest in cryptocurrencies could lead to a shift in how countries store their wealth, with Bitcoin being a possible replacement for gold as a reserve asset.

While this adoption of cryptocurrencies and blockchain technology is in its very early stages, Snowden’s comments highlight the potential for a significant shift in the global financial landscape.

The prospect of another government adopting Bitcoin and potentially making it legal tender represents a huge milestone for the world’s largest cryptocurrency. El Salvador was the first country to make Bitcoin legal tender in 2021. El Salvador’s bet on Bitcoin appears to be paying off in many ways, starting with the increase in the value of the country’s Bitcoin investments.

It has also attracted a significant number of tourists in the form of Bitcoiners and has also brought significant investments into the country. Other countries may see the impact of Bitcoin adoption on El Salvador’s economy and want to do the same. Speaking about Bitcoin’s recent price rise, El Salvador’s President Nayib Bukele stated:

“When Bitcoin’s market price was low, they literally wrote thousands of articles about our alleged losses. Now that Bitcoin’s market price is much higher, we would make a profit of over 40% (from market purchases alone) if we sold, and our main source of BTC is now our citizenship program. Of course we won’t sell; ultimately 1 BTC = 1 BTC (this was true when the market price was low, and it is true now), but it is very telling that the authors of those hit pieces, the “analysts”, the “experts”, the “journalists” , now completely silent.”

Source: https://cryptobenelux.com/2024/02/29/snowden-denkt-dat-een-overheid-in-het-geheim-bitcoin-heeft-gekocht/

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