While the FT Alphaville, an arm of the Financial Times, has demonstrated “long-standing cynicism” towards Bitcoin (BTC) and cryptocurrencies, the media outlet has publicly apologized. Is this an additional signal of adoption?
The Financial Times makes its mea culpa on Bitcoin
Among traditional media, Bitcoin (BTC) and cryptocurrencies have often been denigrated (and still are), whether out of bad faith or ignorance of the subject. Despite everything, the ecosystem is being built little by little and the year 2024 will have marked a decisive turning point, culminating in the surpassing of $100,000 per bitcoin.
💡 How to buy Bitcoin (BTC)?
It is in this context that the Financial Times publicly admitted to being wrong about Bitcoin. Indeed, the famous newspaper published a mea culpa on Thursday, because FT Alphaville has long shared content that is particularly skeptical of cryptocurrencies, since June 2011:
Regular readers of FT Alphaville may have gotten the impression that its current and former authors were united in their skepticism of cryptocurrencies in general and bitcoin in particular. That's correct.
In short, FT Alphaville and a branch of the Financial Times with a more informal and less institutional tone.
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In its press release, the media explains that its publications over the last 13 years have notably been able to consider cryptocurrencies to be disconnected from realityor with too much interconnection with the traditional financial system.
Thus, it is indeed the comments on the attitude of the FT Alphaville, as well as the recent increase, which pushed the newspaper to review its position demonstrating a “long-standing cynicism», which could have dissuaded some readers from investing:
We're sorry if, at any point in the last 14 years, you decided, based on our coverage, not to buy something that has increased in value. […] And we're sorry if you misinterpreted our crypto-cynicism as a statement of support for tradfi, because we hate that too.
This is therefore an additional change of position, among all those that we have been able to observe recently. Depending on how prices evolve in the coming months, we may see historic detractors of Bitcoin, in turn, putting water in their wine.
👉 Also in the news — Bitcoin (BTC) “is like gold” for Jerome Powell, Chairman of the Fed
At the same time, BTC fell by 4.36% in 24 hours at the time of writing and is now trading at a price of $98,250.
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Source: Financial Times
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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