Edward Snowden, the former Central Intelligence Agency employee who is now a fugitive after leaking highly classified National Security Agency documents, issued a tweet that has gone viral now that he’s considering purchasing Bitcoin.
According to the American whistleblower, there’s not a lot of reason behind the recent crypto sell-off that saw BTC lose 50% of its value in two days. Says Snowden,
“This is the first time in a while I’ve felt like buying bitcoin. That drop was too much panic and too little reason.”
The tweet continues to amass engagement as it currently has over 19,000 likes and more than 4,100 retweets.
Snowden is not the only one buying the dip. Barry Silbert, CEO of Digital Currency Group, is also on board.
I'm buying. This is why bitcoin was invented
— Barry Silbert (@barrysilbert) March 12, 2020
When asked by friends if they should buy the dip, YouTube sensation and Bitcoin supporter Michelle Phan told her 899,100 Twitter followers “yes.”
All my friends have been hitting me up asking if they should buy. YES. Buy in the dips. #bitcoin pic.twitter.com/YpNiBw2cBe
— ? (@MichellePhan) March 12, 2020
Dan Gambardello, founder and CEO of cryptocurrency and blockchain recruitment firm Crypto Capital Venture and Bitcoin supporter, also thinks the top cryptocurrency is a good buy after the plummet but cautions that it might not be a wise move considering that the market is gripped by fear.
“I’d say buy the Bitcoin dip, but I feel like that would be irresponsible. Markets are operating out of complete fear and panic and technical analysis is next to useless until things settle down.”
Meanwhile, crypto analyst Tone Vays says Bitcoin’s breakdown is likely not over yet. Vays expects BTC to once again fall below the $5,000 mark in the short-term.
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Featured Image: Shutterstock/Juergen Priewe