Edward Snowden is the American whistleblower who exposed the National Security Agency (NSA) by leaking highly classified information in 2013. He revealed massive global surveillance programs ran by the NSA and other government agencies. The leak prompted the discussion and debate between security and privacy.
On March 13, amid the crypto and stock markets crashes, Snowden tweeted from his private account that he feels like buying Bitcoin for the first time in a while. He claimed that the price dropped too hard with too little reason.
While the COVID19 was wreaking havoc across the global markets. Some of the US stock markets like the Dow Jones suffered its worst trading day after the ‘Black Monday’ stock market crash in 1987. Bitcoin and other cryptocurrencies also suffered from panic sell-off, losing more than 40% in values.
Nevertheless, many people still believe that the sell-off in Bitcoin price was purely due to FUD and panicked investors. Some speculated that due to the high spike in VAR, hedge fund managers and institutional investors had to shred off some of the ‘risky’ assets to cope with high market volatility.
Snowden has a long history with Bitcoin. In 2013, the servers he used to leak and disclose classified information to the public were ostensibly bought with Bitcoin. However, he remains a skeptic, as he commented on his interview in 2018 that Bitcoin’s blockchain was “devastatingly public” and “The much larger structural flaw, the long-lasting flaw, is its public ledger.”
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