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Edward Snowden, Elon Musk Optimistic About Bitcoin Despite FTX Collapse

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important point

  • Edward Snowden said on Twitter today that he wants to increase his exposure to Bitcoin.
  • Elon Musk was similarly optimistic about the fate of top cryptocurrencies.
  • Their comments come at a time when the entire financial industry is reeling from the effects of FTX’s implosion.

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Edward Snowden and Elon Musk believe Bitcoin will be fine despite FTX imploding last week, and Snowden has even said he’s considering increasing his exposure.

“BTC will make it”

Some of Bitcoin’s most prominent proponents remain optimistic about Bitcoin despite the FTX debacle.

American whistleblower Edward Snowden Posted Taking to Twitter’s bitcoin charts this morning, he said the market was “starting to feel the desire to shrink.” The chart is pasted with Snowden’s previous tweet from March 13, 2020, expressing a similar sentiment. Snowden’s old tweet is notable in that it was posted a day after Bitcoin crashed from his $8,000 to his $3,000 due to market panic due to Covid-19. If he actually bought bitcoin that day, the former NSA subcontractor would have perfectly timed the bottom of the market.

Snowden added a disclaimer to today’s tweet, stating that he believes “there are still many problems ahead” and that he has no financial education. His positive outlook on top cryptocurrencies is notable given that he is dealing with the impact of the collapse.

The crisis has left the company’s founder, Sam Bankman-Fried, previously highly regarded in legacy media publications and viewed favorably by lawmakers and regulators, with billions of dollars in customer funding. was illegally used to fund his cryptocurrency trading firm, Alameda Research.

Snowden isn’t the only bitcoin supporter to express optimism.A few hours ago, Tesla and SpaceX CEO Elon Musk also said His opinion that Bitcoin will stay here. “BTC will do well, but it could be a long winter,” he commented on Twitter when someone lamented the coin’s price action over the past year. The relationship has been turbulent, but in light of the FTX scandal, his opinion of the tech hasn’t changed. He may not be particularly surprised. Declared On the weekend when Bankman-Fried left [his] When the two met to discuss financing the Twitter acquisition.

Musk and Snowden’s comments contrast with those of CNBC host Jim Cramer. urged Viewers are encouraged to “cash out their cryptocurrencies while they can.”

Disclaimer: At the time of writing, the author of this article owned BTC, ETH, and several other cryptocurrencies.

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