Once upon a time, back in 2011, Bitcoin was just a baby in the world of finance, priced at a humble $15.90. Fast forward to December 5, 2024, and this digital coin has skyrocketed to a jaw-dropping $100,000! The Financial Times (FT), known for its skepticism towards Bitcoin, decided to jump into the limelight with what they called an “apology.” But hold your horses—it was no ordinary apology.
This supposed apology was crafted by Bryce Elder, the City Editor of FT Alphaville, and it was more like a cheeky wink than a heartfelt confession. The FT had spent over a decade casting a shadow of doubt on Bitcoin, and when the crypto world exploded with joy over Bitcoin's milestone, the FT rolled out this piece, dripping with sarcasm. “We’re sorry if you chose not to invest in this thing whose number went up,” Elder quipped, adding a playful jab at traditional finance for good measure.
Despite the word “sorry” being tossed around, the tone felt more like a mischievous grin than a genuine mea culpa. The timing was impeccable—just as Bitcoin crossed the $100,000 threshold. The article didn’t hold back, reminding everyone of past FT posts branding Bitcoin as a “negative-sum game” and questioning its value. They even stuck to their guns, insisting, “We stand by every single one of those posts.”
The crypto community wasn't amused, branding it a “Cope-Pology.” Critics took to the digital streets, calling it the “saltiest, most petty apology” ever. The FT's long-standing critical position on Bitcoin didn't win them any popularity contests either. Remember, in 2014, they compared Bitcoin's mysterious creator, Satoshi Nakamoto, to a reckless doctor handing out penicillin like candy.
So, as Bitcoin continues to dance past milestones, the Financial Times remains the skeptical spectator, keeping their critical lens firmly focused on the crypto world.
