- Financial Times’ Alphaville section issued a minimal apology for negative Bitcoin coverage since 2011.
- Bitcoin reached $100,000, proving numerous financial experts’ predictions wrong.
- FT Alphaville’s editor defended past negative coverage despite Bitcoin’s 1,200,000% rally.
- Bitcoin’s market capitalization now exceeds $2 trillion.
- Major corporations like VISA, Berkshire Hathaway, and Saudi Aramco now trail Bitcoin in market value.
The Financial Times’ Alphaville section has offered a minimal acknowledgment of its long-standing negative Bitcoin coverage, just as the cryptocurrency reached the historic $100,000 mark. City editor Bryce Elder’s statement comes after 13 years of consistent skepticism dating back to 2011, when Bitcoin traded at $8.
Defensive Stance Amid Market Milestone
Elder’s response maintained the publication’s critical position, stating, “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.” The editor defended the section’s historical coverage under former editor Isabella Kaminski, characterizing Bitcoin as “a negative-sum game” and “compromised as a store of value.”
The cryptocurrency’s achievement marks a significant defeat for prominent Bitcoin critics, including:
- Peter Schiff
- Nouriel Roubini
- Warren Buffett
- Jamie Dimon
Market Impact and Valuation
Bitcoin’s rise to $100,000 has established its position among global financial assets, with its $2 trillion market capitalization now exceeding several major corporations:
- Visa
- Berkshire Hathaway
- Saudi Aramco
- Facebook (Meta)
The cryptocurrency’s performance represents a 1,200,000% increase since FT Alphaville’s initial coverage, highlighting the contrast between traditional financial analysis and digital asset market reality.
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