American whistleblower Edward Snowden has weighed in on the recent Bitcoin price crash. While the Bitcoin price has halved, falling from $9,000 just two days ago to as low as $4,500 earlier today, Snowden is quietly optimistic.
"This is the first time in a while I've felt like buying bitcoin. That drop was too much panic and too little reason," he tweeted.
Snowden was a computer analyst who leaked top-secret NSA documents to journalists. These documents showed that the US was engaged in phone and internet surveillance of its own citizens.
Last year, the Department of Justice filed a civil lawsuit against Snowden for releasing a book without checking it first with the department. He tweeted that these attempts to restrict his speech amounted to censorship. Seeing a future in alternative, decentralized technology, he said, "in conclusion this is good for bitcoin."
The crypto markets have followed the wider markets over the last few days, heading in a downward spiral. Bitcoin lost 20% of its value yesterday, before losing another 20% earlier today. In this time, $70 billion has been wiped from Bitcoin's market cap, with a total of $100 billion lost from the entire crypto market.
As Warren Buffett, the billionaire investor is known for saying, be "fearful when others are greedy and greedy when others are fearful."
Have a news tip or inside information on a crypto, blockchain, or Web3 project? Email us at: firstname.lastname@example.org.