Following the Bitcoin (BTC) flash crash, world-renowned whistleblower Edward Snowden plans to buy the plunge.
In one Tweeter Posted on March 13, Snowden – famous for leaking top secret documents that exposed the scope of US and UK global surveillance operations – wrote:
“It is the first time in a long time that I have wanted to buy bitcoin. This drop was too much panic and too few reasons. “
Snowden’s comments come after what is supposed to be Bitcoin’s sharpest intraday dive ever, when it briefly fell to a new annual low of $ 3,782.
The dramatic drop was in tune with global market chaos, as U.S. President Donald Trump summarily announced new severe travel restrictions today in response to the spread of the COVID-19 coronavirus.
On March 12, the Dow Jones and FTSE suffered their worst day since the Black Monday crash of October 1987, prompting the Federal Reserve in New York to announce emergency action to inject $ 1.5 trillion. dollars in the US financial system.
These devastations cut across a free-falling oil sector, as Saudi Arabia and Russia plunged into a price war amid the collapse of global demand due to the COVID-19 epidemic.
Veteran trader Peter Brandt – who has built a reputation for correctly predicting the cryptocurrency bull run collapse in 2017 – tweeted his disappointing view of the BTC / USD market on March 12:
“If I interpret the graph without bias, I would say less than $ 1,000.”
Amid warnings that Bitcoin is trying to retest the 2-year lows, altcoin prices have also been hit.
“Try buying toilet paper now. Use a US-based VPN server. “
Snowden and cryptocurrencies
Bitden’s bullish view of Snowden may not be mere opportunism amid the collapse of the global market.
In March 2018, he pointed out that “digital scarcity” was the coin’s “fundamental innovation” in his testimony during a hearing on the future of cryptographic regulation in the United States.
In the fall of 2019, Snowden hinted that he could turn to Bitcoin to circumvent the U.S. government’s attempt to restrict his access to the profits from the publication of his book, Permanent Record.
In addition, the servers Snowden had used in 2013 to release thousands of documents to journalists were ostensibly paid to use Bitcoin, although the whistleblower expressed concerns about the cryptocurrency, calling its blockchain “devastatingly public.”
In March 2018, he confirmed that he had used Monero and reiterated his support for Zcash as the “most interesting” altcoin then on the market due to its “unique” privacy setting.
“The much larger structural flaw, the long-term flaw, is its general ledger,” he said of Bitcoin at the time – with the caveat that he nevertheless “could”. used to purchase server infrastructure for its whistleblowing activities in 2013.