In a recent statement shared on Snowden, known for his 2013 leak of NSA documents revealing the extent of global surveillance programs, has been an ardent commentator on privacy, security and now, the implications of BTC for financial empowerment and life private.
Snowden's claim highlights BTC's revolutionary role in the history of money, suggesting that its digital and decentralized nature represents a fundamental shift from traditional, physical forms of money and centralized financial control.
His statement: “Unpopular but true: Bitcoin is the most important monetary advancement since the creation of money. If you don’t believe me or don’t understand, I don’t have time to try to convince you, sorry,” underlines a firm belief in Bitcoin’s value proposition, despite acknowledging its controversial reception among critics and the skeptics.
Snowden recognizes Bitcoin as digital gold
Snowden's recent praise of BTC is not an isolated case. Over time, he has always demonstrated a keen interest in Bitcoin. on X, frequently sharing his thoughts on cryptocurrency. For example, during the Super Bowl, he joked, “Everyone is watching the#SuperBowland here I am looking at the Bitcoin chart,” demonstrating his keen interest in cryptocurrency market dynamics.
His observations also touched on regulatory milestones, such as the approval of cash ETFs in the United States. Ahead of their launch, Snowden noted: “Bitcoin ETFs (finally) just started trading tomorrow, after ten years. Perhaps Congressional policy around cryptocurrency will improve once they realize it supports pension funds and retirement accounts.
Following the ETF's launch, Snowden commented on the shift in financial executives' attitudes toward BTC, illustrating the impact of regulatory acceptance on BTC's mainstream credibility. “It’s crazy how the SEC approved a Bitcoin ETF to transform the CEO of JP Morgan from the king of money to this guy who spends half of every interview insisting “I don’t care about BTC "and the other half sobbing about how he stole his wife and shot his dog," he said.
Additionally, Snowden has drawn comparisons between BTC and traditional assets, stating in June 2022, “Gold is just Bitcoin that can't be sent over the internet,” highlighting its unique advantages as a digital asset. His thoughts extend to global financial crises, as seen in his response to the 90% devaluation of Lebanon's currency in February 2023, where he suggested "whispers that Bitcoin solves this problem", suggesting its potential role in mitigating economic instability.
Despite his support, Snowden has not hesitated to criticize the first cryptocurrency, particularly regarding its privacy features. In November 2021, he praised Zcash for improving the cryptocurrency's privacy capabilities while criticizing BTC's failure to address this issue. “My main criticism of Bitcoin is still, so many years later, that they haven’t solved its massive on-chain privacy problem,” Snowden remarked.