HomeNewsEdward Snowden, Elon Musk Optimistic About Bitcoin Despite FTX Collapse

Edward Snowden, Elon Musk Optimistic About Bitcoin Despite FTX Collapse


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Two of Bitcoin’s most eminent advocates, Elon Musk and Edward Snowden, took to Twitter nowadays to right their faith in the cryptocurrency’s future.

Key Takeaways

  • Edward Snowden acknowledged on Twitter nowadays that he wished to amplify his exposure to Bitcoin.
  • Elon Musk equally expressed optimism in direction of the stay cryptocurrency’s fate.
  • Their comments are near because of the monetary alternate as the whole reels from the influence of FTX’s implosion.
Edward Snowden, Elon Musk Optimistic About Bitcoin Despite FTX Collapse

Edward Snowden and Elon Musk’s focal level on Bitcoin will almost DeFinitely be handsome no matter if FTX implodes the final week, with Snowden even mentioning he was occupied with increasing his exposure.

“BTC Will Absorb It”

Some of Bitcoin’s most eminent advocates remain optimistic about Bitcoin no matter the FTX fiasco.

American whistleblower Edward Snowden posted a Bitcoin chart on Twitter this morning, mentioning that he was “initiating to indubitably feel the itch to reduce in” the market. Posted upon the chart was an old tweet from Snowden from March 13, 2020, expressing an identical sentiment.

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Snowden’s primitive tweet is outstanding in that it was posted the day after Bitcoin infamously plunged from $8,000 to $3,000 because of market awe over Covid-19. If he certainly bought Bitcoin that day, then the outmoded NSA subcontractor timed the market bottom completely.

Snowden added disclaimers to nowadays’s tweet, mentioning that he believes there might possibly be “aloof moderately about an anxiousness ahead” and that he has zero monetary education. On the opposite hand, his bound outlook on the stay cryptocurrency is important, occupied with the monetary alternate at monumental is facing the ramifications of FTX’s sudden collapse.

The crisis has published that the firm’s founder, Sam Bankman-Fried—once acclaimed by legacy media publications and considered favorably by lawmakers and regulators alike—illegally wore billions of bucks of buyer funds to finance his crypto trading company, Alameda Be taught.

Snowden is no longer the handiest Bitcoin proponent to indulge in expressed optimism. A pair of hours ago, Tesla and SpaceX CEO Elon Musk also acknowledged his realization that Bitcoin was here to defend. “BTC will create it, nonetheless will almost DeFinitely be a long cool weather,” he commented on Twitter when someone deplored the coin’s tag action over the previous yr.

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While the billionaire’s relationship with Bitcoin has been tumultuous, his realization of the technology doesn’t appear to indulge in modified in gentle of the FTX scandal. He might possibly possibly possibly possibly also simply no longer even be in particular stunned, as he declared over the weekend that Bankman-Fried “place of [his] bullshit detector” when the 2 met to focus on financing the Twitter acquisition.

Musk and Snowden’s comments are in distinction to CNBC’s host Jim Cramer’s, who on Friday entreated viewers to “cash out on crypto whereas they’ll.”

Disclaimer: This article is for informational capabilities only. It is no longer an immediate offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any merchandise, services, or companies. We no longer provide funding, tax, neatly suited, or accounting advice. Neither the corporate nor the author is guilty, straight or no longer straight, for any injury or loss precipitated or speculated to be precipitated by or in connection with the usage of or reliance on any insist, items, or services mentioned in this text.

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