A timely tribute to the king of cryptocurrency appears alongside a news story on the coronavirus, perfectly describing the fiat economy in the 12 years after 2009
On January 4, Bitcoin (BTC) received a fitting if fortuitous birthday present when the Financial Times placed an article about the cryptocurrency on its front page on the 12th anniversary of its genesis blockchain.
Released on Monday, the FT’s front page already made the rounds on crypto social media even before publication.
12 years later, no bailout: just Bitcoin
The left column of the front page was dedicated to Bitcoin’s rise, while the related price chart served as the paper’s cover image.
The timing couldn’t have been more perfect, just one day after Bitcoin’s 12th birthday. On January 3, 2009, another mainstream newspaper, England’s The Times, had opened its front page with the now famous headline „Chancellor on the brink of a second bailout for banks,“ which was added to Bitcoin’s first transaction block, also known as the genesis block.
In 2021, Bitcoin shared the front page of the FT with an article about lockdowns to combat the coronavirus pandemic, a picture considered by some to be particularly apt. These measures caused enormous economic damage, causing money to be printed on an unprecedented scale.
Naturally, Bitcoin supporters celebrated the news. „On the first business day of 2021, #Bitcoin takes its rightful place at the top of the Financial Times,“ Michael Saylor, CEO of MicroStrategy, summed up to his Twitter followers, adding a quote from French author Victor Hugo.
„Just published: front page of the Financial Times international edition for Monday, January 4.“
In 2021, crypto sector makes traditional assets eat dust
As reported by Cointelegraph, Bitcoin started 2021 already standing out as a macro investment, categorically outperforming traditional assets in just four days. The same thing happened in 2020 and much of the previous years, with a few other cryptocurrencies and later Tesla stock as the only significant competition.
„Bitcoin and Ether are already the biggest hits of 2021,“ Gemini exchange co-founder Tyler Winklevoss tweeted earlier this week.
January 3 also witnessed a sharp drop in reserves on exchanges, reminiscent of an initiative organized by Bitcoin’s „OG“ Trace Mayer three years ago.
Dubbed „Proof of Keys,“ Mayer’s initiative urges investors to remove their coins from exchanges en masse so they can take control of their finances and respect Bitcoin’s ethos of „being your own bank.“
By Monday, however, the trend had already reversed, with sudden volatility in Bitcoin and the return of funds to exchange order books.