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The tweet came days after Snowden recalled a tweet he made earlier this ear saying it was the “first time in a while” he felt like buying BTC. The tweet came at a time in which the price of the cryptocurrency dropped by about 50% as U.S. market indices entered bear market territory and the World Health Organization (WHO) declared COVID-19 a pandemic.
At the time the price of bitcoin dropped to a low of little over $4,000. Since then the price of the cryptocurrency has been surging and recently hit a new all-time high above $23,000. Snowden, it’s worth noting, is well-known as a bitcoin proponent.
In response to his tweet, many in the cryptocurrency community were quick to publish guides and relevant information for potential newcomers who came across the tweet. Other responses led to debates on the viability of cryptoassets.
Snowden, a former Central Intelligence Agency (CIA) employee, and a National Security Agency (NSA) subcontractor, has revealed at the Bitcoin 2019 Conference that the servers he used to leak government secrets were paid for in bitcoin.
Bitcoin’s move to a new all-time high also saw the cryptocurrency start trending on Twitter, as mainstream news outlets reported on its performance and most commented on it.
Over the last 12 months, the price of bitcoin is up over 248%, and some analysts now believe the cryptocurrency’s price still has room to grow and could reach $100,000 in the near future. As reported, a Genesis Mining survey found 17% of crypto investors believe it will trade above $50,000 by 2030.
Featured image via Unsplash.