Edward Snowden believes that Bitcoin ETFs are taming BTC (Bitcoin Amsterdam LIVE).
Speaking at the BTC conference, Edward Snowden, who has supported cryptocurrency for years, said that people should mostly avoid thinking about the value of the asset.
He also talked about the risks that institutions can take with the industry, especially BTC exchanges.
Snowden advised BTC investors who are focused on the asset's price movements to find real use cases for the cryptocurrency instead of looking at charts and candles. He believes bitcoin has a problem with real anonymity, which makes it easier for governments to track the people behind certain transactions. He compared this to the way he leaked classified NSA documents in 2013 and used BTC to pay the servers he used. Snowden also asserted that institutions investing in bitcoin carry certain risks. He warned that while the money flowing into the asset could increase its value, they would have too much power and ordinary people would not be able to influence their decisions and actions on bitcoin. Similarly, Bitcoin ETFs are gaining popularity, especially as large financial institutions apply to launch such products, essentially “taming” BTC. He also said he doesn't care what Gary Gensler (Chairman of the SEC) thinks about government and regulatory agencies trying to dictate how they should regulate Bitcoin and the industry as a whole, as well as BTC users and investors. Finally, Snowden advised developers and regular users to focus more on making BTC more anonymous, which would help fulfill Satoshi Nakamoto's vision.
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