On Tuesday, October 4, Snowden shared an old tweet from March 13, 2020, when he believed he wanted to eventually buy bitcoin. He tweeted that he sometimes wonders how many people will have bought bitcoin in March 2020—when the cryptocurrency’s price fell by nearly 48 percent. Which pushed its price range to between $3,000 (approximately Rs 2 lakh) and $5,000 (approximately Rs 4 lakh), as recorded by BitcoinPrice.com.
If you had bought one bitcoin on March 13th, 2020 for $3000, you would have made a profit of about $46000 (approximately Rs.34 lakhs) today – which is a huge profit.
Sometimes I think back to this and wonder how many people bought #Bitcoin then.
It’s up ~10x since, despite a coordinated global campaign by governments to undermine public understanding of—and support for—cryptocurrency.
China even banned it, but it just made Bitcoin stronger. https://t.co/pbnOFGfaVf
– Edward Snowden (@Snowden) October 3, 2021
Snowden’s tweet has been liked and retweeted by thousands and received mixed responses. However, cryptocurrency fans applauded Snowden for deciding to stay in favor of bitcoin.
Snowden, guardian of public privacy has spoken.#BTC supports the people of corrupt countries and gives power to the people and takes back financial power from politicians and banks.
In #Bitcoin we trust! ???? https://t.co/lmNqpEkByh
– Gabriel Kvål | G ₮ ₳ (@GabrielKvaal) October 4, 2021
In recent days, crypto enthusiasts have voiced their support for the “future of digital payments”. For example last week, Elon Musk said that cryptocurrencies cannot be destroyed.
Orlando Bravo, owner of US private equity firm, said that these decentralized and non-regulated cryptocurrencies will develop as their own customized financial system for youth in the future.
Famous capitalist Chamath Palihapitiya also said in a recent interview that bitcoin has replaced gold in modern times. However, the ill effects of crypto mining on the environment have emerged as a matter of concern in many countries around the world, including China.