Exiled US whistleblower Edward Snowden has a warning for investors in Inu Shiba crypto – it’s a clone of ‘dog money’.
In a recent tweet Snowden warned people not to invest their ‘hard-earned money’ in the crypto, whose price rose 850% this week giving it a market capitalisation of some US $38.5 billion.
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*
— Edward Snowden (@Snowden) October 31, 2021
On Friday Inu Shiba outperformed Dogecoin to become the world’s ninth-largest cryptocurrency by market capitalisation.
Snowden however praised Bitcoin and warned latecomers to its adoption may regret waiting.
Today Bitcoin was formally recognized as legal tender in its first country.
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.
Latecomers may regret hesitating https://t.co/mggfDk4v9z
— Edward Snowden (@Snowden) September 7, 2021