Crypto industry innovator Edward Snowden has reiterated how Bitcoin (BTC) is the most significant monetary advancement the world has ever seen.
Taking to his official X account, Edward Snowden echoed what many in the crypto industry have always drawn inspiration from. According to Snowden, this opinion is an unpopular one but true, considering the decentralized nature of the digital currency.
To add some elements of humor and twists to his claims, Edward Snowden likened Bitcoin’s advancement to that of Coinage. With many Coinage references around, Snowden’s attribution best fits the decentralized crypto media platform.
Unpopular but true: Bitcoin is the most significant monetary advance since the creation of coinage.
If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.
— Edward Snowden (@Snowden) February 18, 2024
The Bitcoin Revolution Going Mainstream
Bitcoin started with Satoshi Nakamoto whose primary goal was to push the coin to the world as a means of payment or transferring value in a Peer-2-Peer (P2P) manner.
Bitcoin’s emergence marks the first true revolution against the established financial system as it seeks to cut off middlemen with many primary goals ranging from decentralizing payments to financial inclusion.
To complement its use case, many innovators are building on Bitcoin’s strength to generate new avenues to drive crypto payments with Lightning Network innovating in this regard.
Beyond the key goals of Bitcoin from inception, the use case of the asset has evolved over the years and has formed a major hedge against inflation and the fast-dwindling global economy. Many investors like MicroStrategy Inc are even acquiring Bitcoin as a store of value considering the US Dollar is notably losing its value.
Bitcoin Validation
This year, Bitcoin was given one of the biggest validations in its history as the United States Securities and Exchange Commission (SEC) greenlighted the issuance of spot Exchange Traded Fund (ETF) products tracking the price of the cryptocurrency. This approval marks more than a 10-year wait for the product.
With its approval, institutional investors now have a regulated avenue to gain indirect exposure to the price of Bitcoin. This investment thirst is showcased considering the combined spot Bitcoin ETF products led by BlackRock and Fidelity, which have recorded a net inflow of $4.69 billion in less than a month of its approval.
Overall, the spot Bitcoin ETF has marked a major frontier that is redefining the new era of adoption of the digital currency.
