Financial Times apologises to bitcoiners after 13 years of criticism

The Financial Times’ Alphaville section has issued a controversial apology to Bitcoin (CRYPTO:BTC) supporters after the cryptocurrency recently surpassed $100,000.

Published on December 5, the op-ed was perceived as a sarcastic acknowledgment of the publication's long-standing scepticism towards Bitcoin.

“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,” stated Bryce Elder, city editor of FT Alphaville.

This statement reflects the sentiment that their critical coverage may have deterred potential investors from capitalizing on Bitcoin’s significant price increase since its initial valuation of $15.90 in 2011.

Despite the apology, FT Alphaville maintained its critical stance, asserting that it stands by its previous posts characterizing Bitcoin as a “negative-sum game” and an “arbitrary hype gauge.”

Elder emphasized that the publication’s scepticism was rooted in concerns about Bitcoin’s efficiency and long-term viability.

The response from the crypto community has been largely negative, with many labeling the apology as insincere.

Comments on social media included terms like “Cope-Pology” and “faux apology,” highlighting frustration over the tone of the message.

Critics pointed out that despite Bitcoin's rise, the Financial Times has consistently portrayed it as lacking intrinsic value and utility.

At the time of reporting, the Bitcoin price was $97,470.27.