FT: Hodlers: an apology

in crypto •  21 days ago 

Re: https://www.ft.com/content/8533f856-57f1-4765-a3dc-d866543092be

FT Alphaville has long been skeptical about crypto, especially bitcoin, viewing it as a clever but inefficient system and questioning its utility as a store of value or medium of exchange. The blog has often highlighted that bitcoin's price is more reflective of hype than intrinsic value, driven by sunk costs, regulatory acceptance, and its status as the "first" cryptocurrency. Despite bitcoin recently surpassing $100,000, FT Alphaville maintains its critical stance, but offers a sarcastic apology to those who regret not investing earlier, emphasizing their broader disdain for traditional finance (tradfi) as well.

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