FT Alphaville apologizes to readers after bitcoin hits $100K
The city editor of the Financial Times’ popular op-ed section, Alphaville, has apologized for its years of staunchly negative bitcoin (BTC) coverage. As the world’s largest crypto surpassed $100,000 per coin, they took a brief moment to self-reflect.
Then within seconds, they doubled down on their reporting.
In short, their mea culpa for discouraging millions of readers from buying BTC since 2011 (when one coin was worth $8) consisted of a single, backhanded sentence: “We’re sorry if at any moment in the past 14 years you chose based on our coverage not to buy a thing whose number has gone up.”
Sorry, not sorry!
Immediately prior to that non-apology, editor Bryce Elder reiterated his support for FT Alphaville’s doomsaying proclamations as BTC rallied 1,200,000% from the section’s June 2011 coverage. Mostly defending the reign of former editor, Isabella Kaminski, he reaffirmed, “We stand by every single one of those posts.”
According to Elder’s own summary of FT Alphaville’s publications over the last 13 years, BTC is “a negative-sum game,” “compromised as a store of value,” and “an arbitrary hype gauge.”
Read more: Bitcoin flippened silver and Saudi Aramco — are Google and Amazon next?
Indeed, today is a day of reckoning for many BTC doomsayers. Peter Schiff, Nouriel Roubini, Craig Wright, Jim Cramer, Warren Buffett, Charlie Munger, Jamie Dimon, and countless others predicted that the currency would never hit $100,000.
It has.
Whether someone chooses to self-reflect and apologize, or double-down on their belief, is up to them. BTC is now worth $2 trillion and has achieved a milestone in the history of internet-native money, surpassing the values of Visa, Berkshire Hathaway, Saudi Aramco, and Facebook.
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