Wikipedia Founder Jimmy Wales Says 'Banks Work And Bitcoin Doesn't,' Faces Crypto Community's Wrath
Portfolio Pulse from Mehab Qureshi
Wikipedia co-founder Jimmy Wales criticized Bitcoin, stating that unlike banks, Bitcoin doesn't work, as evidenced by the fact that losing a bank password doesn't result in a total loss of net worth. His comments sparked responses from Bitcoin advocates like Samson Mow and Eric Voorhees, who highlighted Wikipedia's missed financial opportunity by not investing in Bitcoin. The Wikimedia Foundation ceased accepting cryptocurrency donations in 2022. BTC price was down 3.52% at $42,250.90.
December 11, 2023 | 11:39 am
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NEUTRAL IMPACT
Jimmy Wales' criticism of Bitcoin may influence public perception negatively, but the strong responses from Bitcoin advocates show community support. BTC price is currently down, but the impact of Wales' comments on the price is uncertain.
While Jimmy Wales' comments are negative, the strong defense from Bitcoin advocates may counteract any potential negative impact. The current price dip may not be directly related to his remarks, and the cryptocurrency market's volatility makes it difficult to predict short-term movements based on such comments.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 50