Financial Times Publishes ‘Apology’ to Bitcoiners After 13 Years of Criticism

The Financial Times’ “apology” via its Alphaville section has ignited a firestorm within the crypto community, primarily because of its sarcastic tone and continued skepticism toward Bitcoin despite its historic rise to $100,000. Bryce Elder’s op-ed, published on the milestone day, highlights the publication’s consistent crypto cynicism, even as Bitcoin’s price has skyrocketed since FT first covered it at $15.90 in 2011.

In the piece, Elder facetiously “apologized” for potentially influencing readers against buying Bitcoin, acknowledging the asset’s meteoric gains but dismissing its fundamentals. Elder reiterated longstanding critiques, including Bitcoin’s inefficiency, lack of intrinsic utility, and status as a speculative hype-driven asset. The article also took jabs at traditional finance, clarifying FT Alphaville’s equal disdain for both sectors.

The crypto community largely rejected the “apology,” branding it a “cope-pology” and accusing the publication of lacking humility after years of criticism that failed to anticipate Bitcoin’s success. Many pointed to the irony of FT Alphaville standing firm on earlier dismissals, even as Bitcoin achieved the milestone that prominent critics like Warren Buffett and Jamie Dimon had deemed impossible.

This latest interaction underscores the persistent divide between traditional finance skeptics and Bitcoin proponents. For many in the crypto space, the milestone is a vindication, while for critics like FT Alphaville, it remains another chapter in Bitcoin’s polarizing narrative.

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