Financial Times Issues Snarky ‘Apology’ to Bitcoin Fans
The Financial Times sparked buzz with a lukewarm "apology" after years of Bitcoin criticism, as the price soared past $100,000 on Dec. 5.
But this wasn’t your typical heartfelt apology—it was more of a “sorry, not sorry” moment. In a satirical op-ed published by FT Alphaville, Bryce Elder, the city editor of the section, directed his remarks toward Bitcoin enthusiasts.
Years of Bitcoin Criticism
Since its first article on Bitcoin in 2011—when Bitcoin traded at just $15.90—FT Alphaville has been a vocal critic of the crypto industry . Over the years, the publication labeled Bitcoin as a “negative-sum game,” meaning they believe it creates more losses than gains. They also called it “chronically inefficient” for everyday transactions and “compromised” as a store of value.
Hodlers: an apology https://t.co/aDJdYXuCQD
— FT Alphaville (@FTAlphaville) December 5, 2024
Elder doubled down on these opinions in the op-ed, describing Bitcoin’s price as an “arbitrary hype gauge” disconnected from any real-world use. He added that FT Alphaville stands by “every single one of those posts.”
Mixed Reactions from Bitcoiners
As expected, the “apology” didn’t sit well with Bitcoin supporters. Many accused FT of missing the boat and failing to recognize Bitcoin’s growing role in the global economy.
you are not sorry enough. Higher pic.twitter.com/FannH6ayfk
— Takuiten⚡ (@Takuiten) December 5, 2024
Others saw the humor in the situation, pointing out that FT’s skepticism hasn’t stopped Bitcoin from climbing to new heights.
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