Financial Times apologizes: If our 14 years of negative BTC coverage caused you to miss the opportunity to buy Bitcoin, we are very sorry...

BTC broke $100,000 on Thursday, marking a milestone for the six-digit figure. This prompted FT Alphaville, a column under the UK Financial Times that has been consistently negative about BTC since 2011, to publicly apologize. Peter Schiff, the renowned gold bug who was proven wrong, sarcastically commented that BTC would never reach $100,000 without intervention from the US government. With BTC officially surpassing the $100,000 milestone, both Peter Schiff, the self-proclaimed 'gold guru' who said BTC would never exceed $100,000, and FT Alphaville, the column under the Financial Times known for its negative coverage of BTC, have issued apologies. However, many in the community view these apologies as insincere. Adam Back, the founder of Blockstream and a legendary figure in the BTC community, commented that the apologies were not genuine, despite being wrapped in a 'sorry, not sorry' package. FT Alphaville admitted at the beginning of their apology that they still hold a skeptical attitude towards BTC and emphasized that they still stand by every negative report they've published since June 2011 when BTC was only worth $15.9. They described BTC as a zero-sum game with a clever protocol and acknowledged its usefulness as an accounting unit. However, they believe that as a traditional medium of exchange, BTC's long-term efficiency is low and that it is a compromised store of value. They also acknowledged that their articles may have propagated the view that BTC's price is a speculative indicator unrelated to any utility that other cryptocurrencies may possess. Its intrinsic value comes from sunk cost infrastructure, a range of intangible assets such as regulatory acquiescence, interoperability with the mainstream financial system (once hailed as a panacea), and the allure of being 'the first.' Meanwhile, despite BTC surpassing $100,000, it still faces criticism from many financial pros, including Warren Buffett, who once compared BTC to 'rat poison,' and JPMorgan Chase CEO Jamie Dimon, who admitted to not understanding BTC's utility and vowed to never buy it. However, the most ridiculed figure in the community is Peter Schiff, the 'gold guru' who confidently claimed in November 2019 that BTC would never reach $100,000. Even after BTC reached this milestone, he continued to criticize it, attributing its rise to government intervention. Ironically, BTC only reached $100,000 by buying off politicians and aligning with the government. This milestone would never have been achieved without expected government intervention. What couldn't be done in a free market was accomplished through the cohesive power of the state. Michael Saylor predicts that BTC will reach $13 million by 2045, with an average annual growth rate of 29%. Rich Dad, Poor Dad author Robert Kiyosaki mocked Peter Schiff, calling him a 'gold guru' and stating that he has no knowledge of finance outside of gold. Milestone! BTC breaks the $100,000 mark and continues to set new historical highs. Will there be a major pullback after BTC surpasses $100,000? Analysts say not to be too pessimistic as the altcoin season will heat up. The Financial Times apologizes: 'If our negative reports on BTC in the past 14 years caused you to miss the opportunity to buy BTC, we're really sorry...' This article was first published on BlockTempo, the most influential blockchain news media in the region.