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Edward Snowden Says Competing Nations Now Under Pressure to Acquire Bitcoin crypto

Sep 12, 2021 14:33

Edward Snowden Says Competing Nations Now Under Pressure to Acquire Bitcoin crypto
Following El Salvador making bitcoin legal tender, privacy activist and whistleblower Edward Snowden says, “there is now pressure on competing nations to acquire bitcoin — even if only as a reserve asset.” He warned, “Latecomers may regret hesitating.”
 
Edward Snowden Warns Countries That Hesitate Adopting Bitcoin May Regret Their Decisions
Former computer intelligence consultant for the National Security Agency (NSA) and contractor for the Central Intelligence Agency (CIA), Edward Snowden, commented on El Salvador making bitcoin legal tender Tuesday. He tweeted:
 
Today Bitcoin was formally recognized as legal tender in its first country. Beyond the headlines, there is now pressure on competing nations to acquire bitcoin — even if only as a reserve asset — as its design massively incentivizes early adoption. Latecomers may regret hesitating.
 
El Salvador’s Bitcoin Law went into effect on Sept. 7 and BTC is now a national currency alongside the U.S. dollar. Nayib Bukele, the president of El Salvador, also revealed Tuesday that his government has purchased 550 BTC.