Cryptocurrency proponent and whistleblower Edward Snowden ignited controversy on Sunday when he labeled Bitcoin “the most significant monetary advance since the creation of coinage.”
“If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry,” Snowden tweeted.
Snowden Bitcoin Controversy: X Post Divides Opinion
Snowden’s “unpopular but true” stance follows the whistleblower’s long and storied history with Bitcoin, having most notably used the cryptocurrency in 2013 to fund servers possessing classified materials in order to leak them to journalists.
Unpopular but true: Bitcoin is the most significant monetary advance since the creation of coinage.
If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.
— Edward Snowden (@Snowden) February 18, 2024
Facing espionage charges brought forth by the United States Department of Justice, Snowden has since been living in exile in Russia and was granted the country’s citizenship by President Vladimir Putin in 2022.
Bitcoin and Government Control: Snowden on Crypto Regulation
Last October, Snowden appeared at the annual Amsterdam Bitcoin Conference, where he discussed the token’s impact on the future of financial institutions.
“We are all part of a bigger game, and Bitcoin is one of the strongest levers in that,” Snowden said. “The systems that we are influencing, that we are exerting leverage on – payments and finance – will shape what the world of tomorrow looks like.”
Additionally, he highlighted Bitcoin’s vulnerability to the “prying eyes of governments” given their decentralized nature.
In January 2024, the United States Securities and Exchange Commission approved a number of spot Bitcoin exchange-traded funds (ETFs).
While supporters feel the approval will overall enhance the token’s value and increase its mainstream adoption, critics suggest that the government is becoming too involved and overregulating Bitcoin itself.
“These ETFs are, in essence, taming Bitcoin,” Snowden said about the government-approved ETFs.
Bitcoin Tweet Gains Huge Popularity
At the time of publication, Snowden’s X post had amassed over 10,000 reposts and hundreds of replies.
“Bitcoin is the most egalitarian thing we’ve ever seen,” one user replied. “It’s insanely ambitious, and if it works, can really reshape the fabric of society.”
“Agreed, either get it or get left behind, most of us don’t care to evangelize anymore at this point,” another wrote. “Just like we’re not going to spend time explaining the significance of the internet or the automobile.”
Meanwhile, Snowden has been busy drumming up support for WikiLeaks founder Julian Assange in what may be the last leg of a long legal battle as he attempts to challenge his extradition to the United States.