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Edward Snowden Watches Bitcoin Surge, Forgetting Super Bowl

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Mon, 12/02/2024 - 9:36
Edward Snowden Watches Bitcoin Surge, Forgetting Super Bowl
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Despite the Super Bowl drawing everyone's attention in the U.S., it seems that Edward Snowden finds the current Bitcoin price increase much more interesting to watch. This is what his recent tweet is about.

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Watching Bitcoin chart, instead of Super Bowl

While the eyes of the nation of the United States were glued to Super Bowl LVIII, some major figures in the cryptocurrency space preferred to watch Bitcoin surge above the $48,000 level. One of them is prominent whistleblower Edward Snowden. He has taken to Twitter to say that he was not taking his eyes off of the Bitcoin chart, while everybody else was watching the Super Bowl.

Over the past week, the global flagship cryptocurrency, Bitcoin, added 13.25% as it surged from $42,970 to the $48,663 level. Within the last 24 hours, the BTC surge has constituted 2%. A slight decline of 1.09% followed, taking Bitcoin to the $48,100 level, where it is exchanging hands at the time of this writing.

There are several major reasons for Bitcoin breaking above the $48,000 mark. Bitcoin ETF issuers continue to acquire BTC, while the selling pressure brought by Grayscale seems to be waning now. Bitcoin ETF providers keep reporting massive BTC inflows.

The second reason is that the Bitcoin layer-2 narrative is getting stronger, as many within the cryptocurrency space begin to realize that BTC may be bigger than simply a store of value.

The third factor that contributed to Bitcoin’s advance, first above $45,000 and now beyond $48,000 as well, is the inflow of funds from venture capitalists into Bitcoin-based developing projects. Apps that began to raise money about half a year ago are now seeing massive influxes of cash and have even become oversaturated with capital.

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Robert Kiyosaki endorses Bitcoin during Super Bowl

Financial guru and the author of “Rich Dad Poor Dad,” Robert Kiyosaki, who is also a great Bitcoin advocate, tweeted over the weekend that he expects “the American Empire” to crash soon, likening it to the Roman Empire.

Kiyosaki again pointed out that the U.S. is deep in its fast-growing national debt, which constitutes approximately $34 trillion now. He likened the Super Bowl to “gladiators entertaining Romans,” while the Roman economy was decaying quickly. He urged his followers to bet on Bitcoin and not on the Super Bowl.

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