April 17, 2024

This is an opinion editorial by Federico Rivi, an independent journalist and author of the Bitcoin Train newsletter.

Would you say that soccer and baseball are part of the same industry because both playing fields are covered with grass and in both games a ball is involved? Would you say that Bitcoin and cryptocurrencies are part of the same industry just because they are both in the digital realm and cryptography is involved in both?

The analogy is obvious but still too many equate Bitcoin with cryptocurrencies, refusing to see the substantial differences. The latest example comes from the Financial Times, whose columnist, Jemima Kelly, wrote that “Bitcoin can’t be separated from crypto.” Kelly is no stranger to criticism of Bitcoin — back in 2015, she highlighted the fall in the price of bitcoin from $500 to $300 — but this does not mean that her articles are not worth analyzing in detail, even more so when published in major newspapers such as the Financial Times.

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