Bitcoin’s $100K Milestone Forces FT to Backpedal and the Market’s Next Big Play
BTC finally hit the $100,000 mark on December 5, 2024, which prompted FT Alphaville, the Financial Times’ daily news commentary service, to issue an apology to Bitcoiners. However, their “I’m sorry, I’m not sorry” apology was heavily criticized on X due to its cynical tone. Many believe this “apology” was aimed at investors who chose not to invest in BTC in 2011 when it traded at $15.90.
On that note, FT editor Bryce Elder wrote, “We’re sorry if, at any point in the past 14 years, you’ve decided not to buy a thing whose numbers have gone up based on our coverage. It’s nice when your numbers go up; we’re sorry if you’ve misinterpreted our crypto cynicism as a statement of support for tradfi because we hate that too.”
The Long Rivalry Between Traditional Finance and DeFiFT’s apology was not well received by the crypto community and Bitcoiners, who called it “Cope-Pology” and a “faux apology” on X (ex Twitter). FT Alphaville has been anti-Bitcoin for a long time. In 2014, Mark Williams criticized BTC’s fixed supply schedule. He also called BTC’s creator, Satoshi Nakamoto, reckless, comparing him to “a doctor giving penicillin to every patient without first checking whether they are suffering from infection, depression or mania.”
The controversial apology further fueled the rivalry between DeFi and traditional finance, dividing the crypto community over its authenticity. Bitcoin’s $100k milestone has also changed the way the media covers cryptocurrencies. Namely, BTC went from being a “scam and speculative bubble“ to being recognized as a legitimate asset.
BTC’s astronomical growth even surprised well-known financial analysts, such as Warren Buffett, Jamie Dimon, and Peter Schiff, who stated that BTC would never rise to a six-figure number.
Many factors influenced BTC’s rise in value, culminating in a new ATH of $103,900 on December 5th. These include strong institutional demand and low supply, BTC ETFs, Trump’s victory, and BTC halving.
Although BTC is a speculative asset, many crypto analysts believe that this digital asset will continue to grow. Some predict its price could fluctuate between $124,000 and $150,000 by the end of 2024.
Could Wall Street Pepe Become the Next 100x Meme Coin?BTC’s bullish sentiment will undoubtedly affect the entire crypto market. The last time BTC reached its ATH in 2021, the value of all altcoins increased. Meme coins are currently the most popular digital assets among crypto investors. Although the competition among them is enormous, one coin stands out from the crowd due to its real-world utility. This coin is called Wall Street Pepe.
$WEPE is a frog-themed coin that combines the popularity of Pepe memes with the trading tactics of the Wolf of Wall Street. Its mission is to empower its community, aka the Wepe Army, to out-trade the whales by providing them with insider knowledge and trading expertise. This meme coin managed to raise over $1.3 million in three days. What makes it lucrative for investors are its use cases.
On that note, $WEPE token holders will gain many benefits, such as market updates, alpha calls, and meme coin strategies which will help them trade like Pepe. They’ll also be able to share their trading strategies, and alpha calls with each other and earn passive income by staking their coins for a dynamic APY.
Investors have locked nearly 2 billion tokens, demonstrating widespread confidence in its growth potential. Moreover, early birds will be able to earn additional tokens by submitting their best trades and participating in weekly competitions.
The team has set the $WEPE token’s total supply at 200 billion, reserving 20% for presale buyers.
Join the Wepe Army today to maximize your returns during the bull run.
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