Edward Snowden predicts a government takeover of Bitcoin in 2024.
Famous whistleblower Edward Snowden made a bold prediction about X today, suggesting that national governments will enter the Bitcoin market by purchasing BTC this year.
JUST IN: Edward Snowden predicts "It is expected to be revealed that the government made the purchase this year. #Bitcoin Without revealing that fact publicly." pic.twitter.com/ECauNV3DvA
— Bitcoin Magazine (@BitcoinMagazine) February 28, 2024
“Prediction: This year, national governments will be found to have purchased Bitcoin, a modern alternative to fiat gold,” Snowden said.
Snowden’s prediction comes amid growing institutional, retail and sovereign interest in Bitcoin, with several major corporations and investment firms allocating significant resources to the asset. Snowden did not specify which government would purchase Bitcoin, but the prospect of a second national government acquiring and legalizing Bitcoin in 2021, like El Salvador, would mark another big milestone for Bitcoin.
This morning, El Salvador President Nayib Bukele commented on Bitcoin’s recent price increase: “When the market price of Bitcoin was low, they literally wrote thousands of articles about our expected losses. Now that the market price of Bitcoin has risen tremendously, if we try to sell, we will lose 40% (only with market purchases). will earn more than and the main source of BTC is now the citizenship program. Of course we will not sell, after all 1 BTC = 1 BTC (this is true, when the market price was low, it is true now) but that It is very telling that the authors of hit pieces, “analysts”, “experts” and “journalists” are now completely silent.”
El Salvador’s bet on Bitcoin has been shown to pay off not only in terms of an increase in the value of BTC investments, but also in attracting mass tourism and investment in the country from Bitcoin users. Other countries may be taking note of what Bitcoin has done for El Salvador, and may want to do the same.
As Snowden’s prediction gains traction, it highlights the growing mainstream awareness of Bitcoin’s role in the global economy and its potential to reshape traditional financial systems.
