Edward Snowden: Bitcoin plunges for no reason, considering buying bitcoin

Edward Snowden, a former CIA employee, said that Bitcoin has plummeted by 50% since yesterday, causing panic caused by little reason. In fact, he is considering buying this largest cryptocurrency.

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Snowden want to buy more Bitcoin?

The cryptocurrency community has experienced one of the worst trading days ever. The entire market surrendered because some currencies lost more than 50% during the day. For example, Bitcoin dropped from a daily high of $ 8,000 on Bitstamp to as low as $ 3,700, and on BitMEX, Bitcoin even dropped below $ 3,600.

Naturally, such a sharp price drop has caused great concern. Crypto community members are constantly speculating about the possible reasons behind the plunge.

At the same time, however, Edward Snowden argued that the plunge was not justified and panic was too high. Therefore, he feels that this is an opportunity to buy bitcoin at a low price.

"This is the first time I want to buy bitcoin in a while. This decline is too worrying and there is not much reason."

Snowden's story and cryptocurrencies

Edward Snowden is one of the most popular whistleblower of this generation. He made headlines in 2013 when he publicly leaked many classified documents from the National Security Agency. These documents include proof of large-scale government surveillance of the public, espionage, computer hacking, phone tapping and more.

Interestingly, last year he admitted that he used Bitcoin, the first ever cryptocurrency to help him reveal stolen files:

"The server service I used to transmit this information to reporters was paid in Bitcoin."

Last year, when speaking through a video conference at a Bitcoin industry event in San Francisco, he also outlined the decentralized and unlicensed nature of Bitcoin as its most important advantage.

"Bitcoin is a free currency […], and you can exchange and interact without permission. When I think about privacy, that's all. What does freedom mean? It means freedom without permission, which means Our lives can try, participate, try, and even fail without having to get permission from the competent office. "

Later, he talked about the role of Bitcoin in illegal activities. However, he said: "The number of criminals using dollars is higher."

In the past, Snowden has also praised other cryptocurrency projects, such as the privacy coin Zcash.