Edward Snowden Warns Against Investing In Shiba Inu, Says It's A 'Clone Of Dog Money'

Edward Snowden Warns Against Investing In Shiba Inu, Says It's A 'Clone Of Dog Money'

In a recent tweet, whistleblower Edward Snowden raised the concern about Shiba Inu SHIB/USD and said that people should not invest their hard-earned money in a "clone of dog money".

In his tweet Snowden said, "I say this with love: if you got talked into exchanging your hard-earned savings for some new dog money because a meme said you'd get rich, please carefully consider your odds of outsmarting a market that sold to you its stake in not even dog money but a CLONE of dog money." 

Earlier this week, the Shiba Inu rose by more than 850% to attain a market cap of around $38.5 billion, even surpassing Dogecoin DOGE/USD itself.

On Friday, It outperformed Dogecoin to become the world's ninth-largest cryptocurrency by market capitalization.

Snowden said that he was totally fine with people buying "garbage." However, he's concerned about those who might be manipulated into "mortgaging the farm" to buy Shiba Inu.

On the contrary, Snowden has praised Bitcoin's BTC/USD presence and warned that latecomers to the cryptocurrency adoption may regret hesitating.

In a tweet Snowden acknowledged El Salvador's decision to recognize Bitcoin as legal tender formally.

"Beyond the headlines, there is now pressure on competing nations to acquire Bitcoin—even if only as a reserve asset—as its design massively incentivizes early adoption. As a result, latecomers may regret hesitating," he said.

Related Link: CAN SHIBA INU REACH $0.01?

Posted In: BitcoindogecoinEdward SnowdenShiba InuCryptocurrencyNewsTop StoriesMarketsGeneral

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