Edward Snowden supports bitcoin

02/05/2023

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Edward Snowden, a technical expert and former U.S. intelligence officer, believes bitcoin still stands a good chance of becoming a better substitute for traditional currencies.

While experts believe bitcoin still has many hurdles to overcome, they also note that bitcoin has capabilities of decentralization, scalability and transparency that cannot be found in traditional currencies. All of this allows digital assets to transcend the simple understanding that it is a means of payment.

Despite the large losses that bitcoin has suffered since its 80% depreciation and the onset of cryptowinter, Snowden still argues the necessity of a complete implementation of digital gold. According to him, bitcoin, thanks to a fixed supply level of 21 million, can also fix Lebanon's recent 90% devaluation of the currency.

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