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Edward Snowden, on the X social media platform, made a bold prediction suggesting that this year a national government will be revealed to have entered the Bitcoin market by purchasing Bitcoin, the modern equivalent of gold, without publicly disclosing the fact.
Snowden's prediction comes amidst growing interest in Bitcoin from institutions, retailers, and nations, with several major companies and investment firms allocating significant resources to Bitcoin assets. While Snowden did not specify which government he believes will buy Bitcoin, the prospect of a second national government purchasing Bitcoin and making it legal tender, similar to what El Salvador did in 2021, would be another significant milestone for Bitcoin.
Earlier on February 28, President Nayib Bukele of El Salvador commented on the recent surge in Bitcoin, stating that when Bitcoin market prices were lower, they wrote thousands of articles about the so-called losses. Now, with Bitcoin market prices significantly higher, if they were to sell, they would profit over 40% (just from market purchases), and their main source of BTC now is their citizen plan. Of course, they won't sell. Ultimately, 1 BTC = 1 BTC (it was the case when market prices were low, and it is the case now). But those popular article authors, analysts, experts, journalists are now completely silent, which speaks volumes.
El Salvador's bet on Bitcoin seems to have paid off, not only from the perspective of the appreciation of their BTC investment but also by attracting a large number of Bitcoin enthusiasts to travel and invest in El Salvador. Other countries might take note of the benefits Bitcoin has brought to El Salvador and hope to achieve similar gains.
Snowden's prediction has drawn extra attention, highlighting to some extent the growing acknowledgment in mainstream society of Bitcoin's role in the global economy and its potential to reshape traditional financial systems. |
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Post time 11-3-2024 20:45:33