The infamous whistleblower and privacy activist Edward Snowden has commented on Bitcoin after the Biden administration has unveiled this week a new stimulus proposal worth 6 trillion dollars.
<h2><strong>Edward Snowden Believes $6 Trillion Stimulus Beneficial to Bitcoin</strong></h2>
<a href="https://www.cryptoknowmics.com/news/edward-snowdens-stay-free-nft-art-sells-for-54-million/">Former computer intelligence consultan</a>t for the National Security Agency (NSA) and contractor for the Central Intelligence Agency (CIA), Edward Snowden has <a href="https://twitter.com/Snowden/status/1398292146055168001" target="_blank" rel="nofollow noopener">remarked</a> on Bitcoin once again.

After the U.S. government unveiled a proposal for another stimulus package worth $6 trillion, Snowden tweeted saying this is good for Bitcoin:

<i>"Six trillion dollars? This is good for Bitcoin."</i>

As Bitcoin is measured in U.S. dollars, the latest move on printing more money due to the stimulus package will be an inflationary move by decreasing the value of the dollar while increasing the value of Bitcoin in terms of dollars.

This isn’t the first time Snowden has mentioned Bitcoin; in recent years. For example, after the market crash on March 12, 2020, dubbed as Black Thursday, Snowden said:

<i>“This is the first time in a while I’ve felt like buying bitcoin. That drop was too much panic and too little reason.”</i>

Similarly, when the U.S. Department of Justice (DoJ) seized Snowden’s book sales following the announcement of a lawsuit against the whistleblower, Snowden tweeted:

<i>“In conclusion, this is excellent for bitcoin.”</i>
<h2><strong>Snowden Once Called BTC as the World’s First Free Money System</strong></h2>
Snowden has also criticized the digital asset on several occasions, having recently slammed the Human Rights Foundation’s (HRF) Alex Gladstein’s recent statement:

<i>“The worst part of cryptocurrency transforming into dragon-level wealth is witnessing good people emotionally devolve into dragons themselves: so intellectually paralyzed by the fear that everyone they see threatens their hoard that they lose sight of the world beyond their cave.”</i>

Despite the occasional jibes, Snowden reveals that he utilizes the cryptocurrency on a regular basis and once referred to it as the world’s first free money system.

He has also mentioned privacy coins like <a href="https://www.cryptoknowmics.com/news/an-analysis-of-privacy-preserving-blockchain-monero/">Monero (XMR)</a> and zcash (ZEC) on various occasions and has said many times that cryptocurrencies are a threat to the nation state’s monopoly over money.

$6 Trillion Stimulus is Good for Bitcoin, Says Edward Snowden

Edward Snowden has commented on Bitcoin after the Biden administration has unveiled this week of a new stimulus proposal worth 6 trillion dollars.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

$6 Trillion Stimulus is Good for Bitcoin, Says Edward Snowden

Top Picks