The well-known Edward Snowden commented on the impact that the US economic stimulus proposals could have on the price of Bitcoin. All of this after Biden said he was targeting $ 6 trillion in stimulus. Snowden commented on the situation and said it was good for Bitcoin.
For those who do not remember well, Edward Joseph Snowden is an American technology consultant, informant, former employee of the Central Intelligence Agency and the National Security Agency of the United States. He became known for posting confidential information about privacy violations carried out by these agencies.
Edward Snowden Criticizes Biden’s $ 6 Trillion Covid Relief Proposal, Says It’s Good For Bitcoin
Snowden’s statement on Twitter follows recent days of reports on the Biden administration’s $ 6 trillion stimulus proposals to rebuild a better America.
«Six trillion dollars? This is good for Bitcoin», He said whistleblower Edward Snowden on Friday. The tweet already has 49,800 likes and has been retweeted more than 7,700 times.
Of course, this is not the first time Snowden has talked about Bitcoin. The privacy activist has spoken a lot on the subject in recent years. For example, after the market black Thursday of March 12, 2020, Snowden said: «This is the first time in a long time that I have wanted to buy bitcoins. That fall was too much panic and too little reason».
However, he has also criticized the cryptocurrency on some occasions. But he has also mentioned many times that cryptocurrencies are a threat to the national state money monopoly.
What does the stimulus proposal consist of?
US President Joe Biden revealed his proposed $ 6 trillion budget for next year. This proposal implies a network of safety programs for the poor and the middle class. However, this measure depends on raising taxes on corporations and the wealthy to prevent the country’s debt from spiraling out of control. This is why Snowden thinks it would be good for Bitcoin, as there is likely widespread interest in protecting assets from potential inflation if things get out of hand.