Super Bowl LVIII was a global phenomenon on Sunday, but former NSA contractor Edward Snowden had other things on his mind.
He wrote on X, which was formerly Twitter, “While everyone else was glued to the #SuperBowl, I was glued to the bitcoin chart.”
This is because prominent cryptocurrency companies refrained from airing Super Bowl ads this year. Notably absent from the typically prominent crypto promotional event was any mention of this. The only one who wasn’t there was Jack Dorsey, co-founder of Block Inc. and Twitter, who sat close to Beyoncé and Jay Z while wearing a “Satoshi” sweater. Wearing the shirt was a discreet way for Dorsey to show his support for Bitcoin while also paying homage to the unknown founder, Satoshi Nakamoto.
Sunday saw Bitcoin’s value reach a one-month high, surpassing $48,000. This surge comes against the background of Asian Lunar New Year festivities.
A number of Bitcoin Exchange Traded Funds have taken in over a billion dollars, easing selling pressure on bitcoin and indicating increasing interest in the cryptocurrency industry.
While the new U.S. Spot Bitcoin ETFs saw a jump in inflows, GrayScale’s Bitcoin Trust, which is now an exchange-traded fund, saw a decrease in outflows. On February 9, these ETFs saw a net inflow of $541 million, which was second only to their first trading day. As a counterpoint, GBTC’s outflow was the lowest it has been all month, down 91% from January’s peak.
Following the SEC’s approval of a Bitcoin ETF in January, Snowden made remarks directed at Jamie Dimon, CEO of JP Morgan…. The CEO of JPMorgan went from being the King of Money to that man who spends half of every interview saying, “I don’t care about Bitcoin,” and the other half crying because it killed his wife and dog. This happened because the SEC approved a Bitcoin ETF, according to his tweet.