FT Alphaville, a daily commentary service of the Financial Times, issued a mocking apology to Bitcoiners yesterday after the price reached $100,000 on December 5.
After 13 years of publishing misses about Bitcoin, and keeping loyal readers away from the best-performing financial asset of the past decade, the Financial Times yesterday poured another bucket of acid on Bitcoin.
The Financial Times’ mock-laced ‘excuse’
If a financial asset has been showing the complete opposite of what you as an expert predict for over 13 years, what do you do?
Wouldn’t it at least be a good idea to stop talking about it for a while? After all, as a financial expert you should know that there is no such thing as certainty and that change is possible.
If a financial asset does not fit your worldview, and based on that worldview you have been criticized for 13 years, wouldn’t it be interesting and even fun to think about it?
At the Financial Times, the answer is clearly no.
Even with the Bitcoin price of $100,000, Bryce Elder of the Financial Times takes a doubly sour approach.
“We’re sorry if at any point in the last 14 years, based on our reporting, you decided not to purchase something that has increased in value. It’s nice when your value increases,” says Elder.
Since June 2011, FT Alphaville has called Bitcoin “chronically inefficient” as a medium of exchange, “compromised” as a store of value, and said to be an “arbitrary hype meter devoid of any usefulness.”
Elder emphasized that FT Alphaville “still stands behind all those words.”
Apology not well received
The Financial Times’ “apology” to Bitcoiners was not very well received by the Bitcoin community on X.
That was of course to be expected, and in some ways it is justified at these price levels. Some modesty would certainly be appropriate for someone who has been completely wrong on a subject for 13 years.
Brandon summed it up well with the tweet below. “This is the most sour, most childish apology I have ever seen. Much more entertaining than a sincere apology, so thank you.”
And now on, because we are of course hoping for another 13 years of mistakes and misplaced arrogance from the Financial Times.
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Source: https://newsbit.nl/financial-times-zegt-sorry-tegen-bitcoiners-voor-13-jaar-kritiek/
