February 20, 2024

Edward Snowden on Bitcoin: Most Significant Monetary Advance Since the Creation of Coinage

The whistleblower's bold declaration on Bitcoin's significance echoes the sentiments of its elusive creator, Satoshi Nakamoto.

Edward Snowden, renowned whistleblower and fugitive, has boldly proclaimed Bitcoin as "the most significant monetary advance since the creation of coinage".

In a recent post on X, Snowden shared his perspective, acknowledging its contentious nature with the phrase "unpopular but true". Echoing the enigmatic words of Bitcoin's creator, Satoshi Nakamoto, Snowden emphasized, "If you don't believe me or don't get it, I don't have time to try to convince you, sorry."

Snowden's endorsement of Bitcoin isn't merely theoretical; he has been an active user of the cryptocurrency since 2013. It was during this time that he utilized bitcoin pseudonymously to cover the costs of servers hosting the sensitive materials he disclosed to journalists, resulting in his infamous exile from the United States.

Despite residing in Russia, Snowden continues to engage with global audiences, advocating for bitcoin's transformative potential in the realm of finance. Speaking at the Bitcoin Amsterdam conference last year, he urged participants to view Bitcoin beyond its monetary value, emphasizing its role in reshaping financial systems worldwide. "We are all part of a much bigger game, and bitcoin is one of our strongest levers in that," he asserted, highlighting its profound influence on the future landscape of payments and finance.

In his critique of central bank digital currencies (CBDCs), Snowden has drawn parallels to fascism, denouncing them as instruments that undermine individuals' control over their finances.

Furthermore, Snowden has actively supported projects aimed at enhancing cryptocurrency privacy. He played a pivotal role in the development of Zcash, a privacy-focused cryptocurrency. Additionally, he recently lent his endorsement to the legal defense fund of Roman Storm, a co-founder of Tornado Cash, a service facing scrutiny for facilitating coin mixing and potential money laundering activities.

Edward Snowden's advocacy for Bitcoin transcends mere endorsement; it reflects a broader commitment to advancing financial sovereignty and individual privacy in an increasingly digitized world.

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