"Sorry, is BTC still useless even if it breaks 100,000?" Financial Times' "apology letter" ignites anger in the crypto world.

As Bitcoin broke through the $100,000 mark yesterday, the crypto world cheered. However, a sarcastic 'apology letter' from FT Alphaville, a column under the Financial Times, has stirred up the entire cryptocurrency community, adding a touch of gunpowder to this celebratory market.

On this day when BTC reached a historic milestone, Bryce Elder, the author of this article and the editor of FT Alphaville, chose to 'apologize' with an ironic tone.

If you chose not to buy BTC because of our reporting in the past 14 years, we are sorry to see it rise now. It is indeed happy to see the numbers rise up.

He then added, “If you mistakenly think that our criticism of Cryptocurrency is equivalent to supporting TradFi (TradFi), then we are also sorry, because we actually hate TradFi too.”

This statement not only did not appease the crypto world, but instead brought a lot of anger. Many people believe that the 'apology letter' is full of sarcasm between the lines, which is not like an apology at all, but a 'provocation to the bone'.

BTC breaks 100,000 US dollars, FT Alphaville still doesn't buy it

In fact, FT Alphaville has been extremely skeptical of this asset since its first report on BTC in 2011 (when the price was only $15.90), and has criticized BTC extensively in multiple columns.

FT Alphaville once described BTC as a "zero-sum game (a game in which both sides suffer losses to varying degrees)", running on a very smart and "assumed useful" accounting unit protocol, but as an exchange medium, it is "inefficient" and as a store of value tool, it has "flaws".

FT Alphaville even pointed out directly that the price of BTC has no practical support and is just a "speculative indicator". Bryce Elder emphasized in his apology letter:

We stick to these views completely, and the positions of all past articles remain valid.

crypto world community: What kind of apology is this?

Once this article from FT Alphaville was exposed, it immediately sparked a heated debate on social platform X, and many people in the crypto world responded fiercely without mercy.

A netizen sarcastically referred to this apology as 'Cope-Pology'; another user said, 'What kind of apology is this? This is a self-satisfied satire.'

Some people even say, "Imagine, you are so wrong, yet you don't even have a humble attitude."

Once likened Satoshi Nakamoto to a "doctor who prescribes random prescriptions"

FT Alphaville's criticism of BTC extends beyond just technical and price concerns; they have even attacked 'BTC's father' Satoshi Nakamoto (Satoshi Nakamoto).

In 2014, FT Alphaville published a column written by former Federal Reserve risk examiner Mark Williams, in which Satoshi Nakamoto was likened to a "reckless doctor" and the BTC supply mechanism designed by Satoshi Nakamoto was criticized as "poorly designed" and completely unable to cope with the fluctuations of the economic cycle, with ridicule that such a design is like a "doctor recklessly prescribing penicillin regardless of whether the patient has an infection or is depressed".

Even though Bitcoin has surpassed the milestone of $100,000, the criticism along the way has never ceased.

Warren Buffett, CEO Jamie Dimon of JPMorgan Chase, and Peter Schiff, a financial pro, have all publicly predicted that "BTC cannot reach $100,000". However, time has ultimately proven these predictions to be inaccurate.

"Sorry, is Bitcoin breaking 100,000 still useless? Financial Times' "apology letter" ignites the anger of the crypto world" This article was first published in "Block Times".