Financial Times Bitcoin Takedown Sparks Crypto Community Backlash
A scathing opinion piece published by the Financial Times has sparked a firestorm of criticism and defiance within the cryptocurrency community.
Jemima Kelly’s article, titled “Bitcoin is still about $70,000 too high,” boldly declares that the leading cryptocurrency is destined to hit zero.
The article comes after Bitcoin underwent a steep correction alongside the rest of the crypto market. During this pullback, the leading digital asset slumped to around $60K levels. Investors have since taken the opportunity to buy the dip. BTC subsequently trades at around $70K at the time of writing.
BTC price (Source: CoinGecko)
In her piece, Kelly compares Bitcoin holders to the protagonist of the French film La Haine, repeating “so far, so good” as they fall from a skyscraper before ultimately splattering on the ground.
The article’s tone and language have been met with widespread mockery and disdain within the industry.
Industry Experts See Contrarian Indicator
Veteran market participants are interpreting Kelly’s piece as a contrarian indicator that the bottom is in. Many believe that when mainstream media declares Bitcoin “dead,” it can actually be seen as a bullish sign for the asset class.
Other reactions were more visceral, targeting the Financial Times’ declining influence and relevance in the digital age. User Bram Kanstein mocked the publication’s inability to grasp the asset class, sarcastically cheering them on: “Fading the most profound technological discovery of your industry, well done!!”
Some users expressed disbelief that such hardline skepticism still exists in 2026, writing, “I can’t believe people still write things like this.” Others saw Kelly’s article as a sign of desperation, noting that the Financial Times’ influence is waning in the face of online disruption.
Bitcoin Fans Refuse To Be Swayed
The sentiment was echoed by many within the industry, with some users even using Kelly’s piece as a buying signal.
“NOW we can confidently say Bitcoin’s bottom has been reached,” wrote one user on X. “When outdated, incompetent, arrogant media start posting…is when Bitcoin starts flying.”
As the cryptocurrency community continues to rally around the notion that Bitcoin is not dead by a long shot, it remains to be seen how the Financial Times will respond to the backlash.
One thing is certain, however: the debate surrounding the future of Bitcoin and its relevance in the digital age is far from over.
