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In a surprising turn of events today, the price of meme cryptocurrency BITCOIN experienced an extraordinary surge, reaching almost 50%, following Ethereum founder Vitalik Buterin's public apology. The unprecedented rise came after Buterin admitted to a misunderstanding in one of his essays, where he had previously referred to the meme coin as a scam attempting to impersonate the real Bitcoin.
Alex DovbnyaThe controversy surrounding Buterin's remarks took an unexpected twist when a passionate crypto enthusiast reached out to him, shedding light on the true nature of the meme coin. Contrary to Buterin's initial assessment, the enthusiast clarified that BITCOIN is not a scam but a legitimate asset with its own dedicated community. As a testament to their commitment, the BITCOIN community shared heartwarming stories of their charitable endeavors, including the construction of wells in Nigeria and the provision of uniforms and equipment to children's soccer teams.
The community's efforts caught Buterin's attention, prompting him to reevaluate his stance on the meme coin. In a subsequent post, Buterin not only corrected his earlier comments but also issued a formal apology for any confusion caused.
What is BITCOIN?
BITCOIN, which first appeared on the crypto scene in May 2023, distinguishes itself by its lack of underlying technology, instead relying on the strength and unity of its community.
Despite its lengthy name, the meme coin aims to democratize ownership of a full-fledged BITCOIN, making it accessible to individuals during times when the original Bitcoin's price is prohibitively high for the average person.
As the crypto market continues to witness unexpected twists and turns, the BITCOIN community's resilience and Buterin's public reversal have undoubtedly fueled the remarkable surge in the meme coin's price.
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team