Gemini co-founder Cameron Winklevoss took potshots Sunday at the British daily newspaper Financial Times for its 12-year-old article that predicted Bitcoin (CRYPTO: BTC) would become the next “bubble.”
Winklevoss Criticizes Media’s Bitcoin Coverage
Winklevoss took to X to voice his criticism of the mainstream media’s negative projections about the leading cryptocurrency. He specifically called out the Financial Times for their 2013 article, which compared Bitcoin to historical financial bubbles such as the tulip mania and the dotcom bubble.
He pointed out that Bitcoin, which was valued at $138 on the day the article was published, is now worth over $100,000, indicating a whopping 76576.8% increase.
“I think it’s time for the FT to admit defeat and print a retraction,” Winklevoss said. “The business press not only hates business, it knows nothing about it.”
FT didn’t immediately return Benzinga’s request for comment.
Interestingly, while the Financial Times has written multiple op-eds critical of Bitcoin and its potential, it also published an article in August titled “Britain missed the first crypto wave. We cannot skip the second.”
It’s worth mentioning that less than a year after the FT’s piece, Mt. Gox, one of the most popular Bitcoin exchanges at the time, declared bankruptcy after losing 744,408 BTC in a hack. This pushed Bitcoin into a slump and an extended bear market, and by early 2015, prices had collapsed. But Bitcoin charted a recovery, which turned into a boom during 2017, when ICOs were garnering public attention.
Winklevoss Twins And Their Bitcoin History
Cameron and his twin brother Tyler have been big cheerleaders of Bitcoin and the broader cryptocurrency industry.
The two made significant Bitcoin donations to support the campaigns of pro-cryptocurrency politicians, including President Donald Trump and John Deaton, who ran against Senator Elizabeth Warren (D-Mass.), during the 2024 election cycle.
In August, they donated $21 million in Bitcoin to a political action committee supporting Trump’s vision of making the U.S. the “world’s cryptocurrency capital.”
The twin brothers own an estimated 70,000 BTC, worth $7.40 billion, in addition to other cryptocurrencies, according to data from Forbes.
Price Action: At the time of writing, BTC was exchanging hands at $105,854, up 3.87% in the last 24 hours, according to data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
