Noted whistleblower Edward Snowden made a bold prediction about X today, suggesting that the national government will enter the Bitcoin market this year by purchasing BTC.
JUST IN: Edward Snowden predicts "A national government will be revealed this year the purchase has been made #Bitcoin Without revealing this fact publicly." pic.twitter.com/ECauNV3DvA
— Bitcoin Magazine (@BitcoinMagazine) February 28, 2024
“Prediction: It will be revealed this year that a national government has purchased Bitcoin — the modern alternative to monetary gold — without disclosing that fact publicly,” Snowden stated.
Snowden's predictions come amid growing institutional, retail and state interest in Bitcoin, with several major corporations and investment firms committing significant resources to the asset. While Snowden did not specify which government he believes will make the purchase, the possibility of a second national government acquiring Bitcoin and making it legal tender, as El Salvador did in 2021, would represent another huge milestone for Bitcoin.
Earlier today, El Salvador President Nayib Bukele commented on the recent increase in Bitcoin prices, saying: “When the Bitcoin market price was low, they literally wrote thousands of articles about our supposed losses. Now that the Bitcoin market price is up, if we wanted to sell, we would make a profit.” Over 40% (just from market purchases), and our main source of Bitcoin is now our citizenship program. We will not, of course, eventually sell 1 BTC = 1 BTC (this was true) when the market price was low, and this is true now); but It is interesting that the authors of those hit articles, the “analysts,” “experts,” and “journalists,” are completely silent now.
El Salvador's bet on Bitcoin appears to have paid off, not only from the perspective of increasing the value of their Bitcoin investments, but also by attracting large amounts of tourism from Bitcoin users and investment into the country. Other countries may take notice of what Bitcoin has done for El Salvador, and may want the same.
While Snowden's predictions are gaining attention, they underscore the growing mainstream recognition of Bitcoin's role in the global economy and its potential to reshape traditional financial systems.
