Whistleblower Edward Snowden took to Twitter on December 7 to revisit his March 13 "buy the dip" tweet when Bitcoin crashed to $5,000. At the time, he argued the drop was irrational—even suggesting he might buy BTC despite never having owned any.
The Erosion of Dollar's Purchasing Power
With over 4M Twitter followers, Snowden first humorously highlighted chronic inflation:
"I thought I fully understood those tough times... until my wife told me the McChicken was removed from the $1 menu."
He referenced McDonald's removing the McChicken from its dollar menu due to price hikes (now $1.29), underscoring the dollar's declining value.
Snowden then noted:
"The dollar has lost 99.93% of its value against Bitcoin since 2013."
👉 Bitcoin’s historical performance against fiat currencies
March 12: The Market Bottom
On March 12, 2020:
- U.S. stocks triggered multiple trading halts
- Crypto markets lost $80B in a day
- Panic sentiment peaked
Snowden tweeted during the crash:
"Bitcoin’s drop makes no sense—it’s pure panic."
As BTC surged past $19,000 (nearing ATHs), he reposted this "bottom call," reminding followers Bitcoin was at ~$5,000 then.
Applying for Russian Citizenship
Exiled since 2013 for exposing PRISM surveillance, Snowden:
- Obtained Russian permanent residency (October 2020)
- Hopes to retain U.S. citizenship pending pardon/fair trial
Despite Trump’s pardon considerations, Snowden remains in Russia.
FAQs
Q: Why did Snowden call Bitcoin’s bottom?
A: He viewed the March 2020 drop as irrational panic unrelated to fundamentals.
Q: How much has BTC gained since Snowden’s tweet?
A: ~280% (from $5K to ~$19K).
Q: Can Snowden return to the U.S.?
A: Only if pardoned or guaranteed a fair trial.
Risk Warning
Crypto investments are volatile—you may lose all capital. Assess risks carefully.