The Bloomberg news agency, which has a dedicated team of crypto reporters, headlined another article where they 'troll' cryptocurrencies and crypto investors.
The Bloomberg headline about bitcoin yesterday was: 'Jamie Dimon and Warren Buffett Have the Last Laugh on Bitcoin', an article that regurgitates, yet again, all of the comments made by Dimon and Buffet in regards to their thoughts on Bitcoin.
Nothing new there. Nothing crypto investors haven't heard before. However, the tone of the article is somewhat different this time around.
'The cryptocurrency experts, who clearly didn’t see this coming, are blaming all sorts of temporary culprits — from jittery markets to hard forks. But they’re kidding themselves. This is a long-term unraveling of all of the lies, exaggeration and populist fantasies that drove last year’s market mania.'
Most of the time a touch of sarcasm isn't bad at all, but as Clifford N Lazarus once said 'It's better used sparingly, like a potent spice in cooking. Too much spice and the dish will be overwhelmed by it.'
However, this Bloombergs article seems to be 'overwhelmed' with too much of it.
'Bitcoin was meant to make all of its investors rich, something that held particular appeal to a millennial generation hungry for a financial boost in a world of crushing student debt, income inequality and low-quality jobs. It was meant to be free of Wall Street’s corruption and the U.S. government’s meddling technocrats.'
'It was meant to be secure, with a price that would go ever higher.'
'It was meant to show that we should all stop listening to fuddy-duddy experts like Jamie Dimon, Warren Buffett and Jack Bogle. The old, closed ways of investing would be usurped by the buying power of the masses.'
'Cryptocurrency’s economic delusions are unravelling.'
'Jamie Dimon and Warren Buffett Have the Last Laugh on Bitcoin'
'For the patsies who arrived late to the party, it has been a tool of financial impoverishment.'
Rogue Trader from abacusjournal, decided to call Bloomberg out.
'These articles are an embarrassment to a media organization that can clearly afford better and more informed contributors and copy. It is offensive and that is why we are calling them out.'
'Engaging in the mockery of a community dedicated to technology, finance, and engineering to create the next ‘super asset class’ is debased and beneath them.'
'Do better Bloomberg, do better.'
Many readers agree.
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