Edward Snowden wants to buy bitcoin for the first time

The rapid collapse of the Bitcoin (BTC) rate is considered by the famous whistleblower Edward Snowden as the bestan opportunity to buy cryptocurrency. In his tweet published March 13, Snowden wrote:

«This is the first time I felt the urge to buy Bitcoin. There was too much panic and too little reason for this fall.

This is the first time in a while I’ve felt like buying bitcoin. That drop was too much panic and too little reason.

- Edward Snowden (@Snowden) March 13, 2020

Snowden's comments came after yesterday's soaring Bitcoin price drop, when the price briefly reached an annual low of $ 3,780 (Binance data).

In the past, Snowden also praisedcryptocurrency. So, he pointed to its "digital scarcity" as a "fundamental innovation." He admitted that bitcoin could help him circumvent US authorities' restrictions on access to capital. For the servers used to organize the leakage of documents in 2013, the informant also allegedly paid with cryptocurrency.

At the same time, Snowden considers the public nature of the Bitcoin blockchain to be one of its main shortcomings and speaks highly of such private cryptocurrencies as Monero and Zcash.

“Bitcoin is performing an important task, and II really think that it has long-term value, but when I look at the developers of its core and the speed with which they present updates, I understand that they should work better. Otherwise, they will not stand the competition. "“He said.

A sharp drop kept pace with the wider marketamid concerns about the spread of the coronavirus COVID-19. On March 12, the Dow Jones and FTSE survived their worst day since Black Monday in October 1987, prompting the Federal Reserve Bank of New York to announce plans to spend $ 1.5 trillion on stock market panic.

The head of Digital Currency Group, Barry Silbert, also decided to purchase as many bitcoins as possible, taking advantage of the market situation.

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