Financial Times Attacks Bitcoin Again, But BTC's Surge to $93K Responds – The Fastest Layer-2 for Bitcoin Accelerates

Recently, Bitcoin's (BTC) rise back to $93,000 marks a bullish response to the latest criticisms from the Financial Times (FT). At the same time, Bitcoin Hyper (HYPER), the fastest Layer-2 designed for BTC, is continuing to gain momentum in its presale, nearing $29 million in funding. This project combines Solana-like speed with Bitcoin-level security, opening up a new channel of demand that could push prices even higher.

Key Takeaways

Bitcoin recently surged to $93,000 in response to criticism from the Financial Times (FT).
Bitcoin Hyper, a fast Layer-2 solution for BTC, is raising funds in presale, nearing $29 million.
The FT has published multiple articles criticizing Bitcoin's functionality as currency and investment.
Michael Saylor of Strategy envisions a massive total addressable market for Bitcoin, but emphasizes the need for utility.
Bitcoin Hyper is designed to enhance Bitcoin's utility, aiming to unlock new applications and demand.

bitcoin hyper main btc

Although the FT claims that BTC cannot reclaim its all-time high of $126,000 based solely on the current demand landscape, the extended demand through utility may play a critical role, especially as Bitcoin becomes usable across a wide range of hybrid applications. Investors are flocking to HYPER, viewing it as either a bet on the next big Bitcoin rally or as the closest opportunity available today for returns similar to Bitcoin's early days.

HYPER tokens are currently priced at $0.013365 each, but only for the next eight hours; afterward, the presale will move to the next pricing round.

Financial Times Doubles Down on Its Anti-Bitcoin Stance Amid Market Turbulence

The Financial Times has been one of Bitcoin's most vocal critics for years, and recent market corrections have provided fresh ammunition for the publication. Over the past week, it has released several articles targeting the leading cryptocurrency.

In one article, it argued that Bitcoin “cannot function as a currency,” claiming its biggest flaw is the “downward supply inelasticity”—the idea that since Bitcoin cannot destroy supply or tighten monetary conditions during downturns, it can never stabilize as a means of transaction. Two other pieces focused on companies accumulating BTC, particularly targeting Strategy. One ridiculed the company’s debt-based accumulation strategy with the phrase “Infinite money glitch, meet arithmetic,” suggesting that using leverage to acquire more Bitcoin is fundamentally problematic. Another article expanded criticisms to other digital treasury firms trying to replicate Strategy’s model.

On Wednesday, as Bitcoin once again slipped back after a major liquidation event wiped out over half a billion dollars in positions on Monday, the FT published another critique. It suggested that there might be “nothing” for Bitcoin to recover, not even its all-time high of $126,000. The article noted that if the dollar continues to weaken due to deficits and political instability, investors would be better off buying gold, which, as the FT points out, has outperformed Bitcoin since the summer.

bitcoin us dollar crypto chart

The report also reinforced criticisms towards Strategy, reiterating that the company’s strategy “is not working at this time,” with its stock down over 30% and underperforming relative to the asset it is accumulating. It claimed that Strategy cannot sustain its model unless its shares trade at a premium to Bitcoin. If the stock price remains pressured, the company may struggle to issue sufficient preferred shares to continue buying BTC.

For Strategy's approach to work overall, Bitcoin must continue to gain in value—something the bears are openly questioning right now. If bearish pressure persists, it becomes increasingly difficult for any treasury strategy heavily exposed to Bitcoin to outperform the very asset it holds.

Saylor's $200 Trillion Vision for BTC Relies on One Critical Missing Piece: Utility

With BTC rebounding to $93,000 on Wednesday, this movement was a clear “response” from the bulls against the newspaper's criticisms. Bitcoin has always moved sharply due to its volatility, which Michael Saylor of Strategy views not as a flaw but as an opportunity for long-term accumulation.

As the FT pointed out, Saylor frequently references Bitcoin's massive total addressable market (TAM), which he estimates could one day reach $200 trillion. However, for Bitcoin to realistically tap into such a market, it cannot rely solely on the “store of value” narrative.

"Bitcoin is worth $2 Trillion today; it will be worth $200 Trillion in 20 years." 🚀
– Michael Saylor at CPAC pic.twitter.com/Zczxcj2xqf
— Swan (@Swan) February 21, 2025

A true multi-trillion TAM must include usable utility and not just a monetary premium. Despite many efforts, utility remains a significant area that Bitcoin has not fully conquered.

This is where Bitcoin Hyper comes into play. As the fastest Layer-2 designed for BTC, it aims to transform Bitcoin from a static asset into an actively usable one, unlocking new applications, expanding utility, and ultimately bringing Bitcoin closer to the full TAM envisioned by advocates like Saylor.

How Bitcoin Hyper Will Create Utility Demand for BTC

Bitcoin Hyper is building an ecosystem where applications accept BTC as an inherent means of transaction while operating with speeds and costs typically seen in applications built on Solana. It achieves this by operating in an SVM-powered environment that acts as an execution layer while still anchoring everything back to the Bitcoin network for settlement.

This is why investors are so excited—the system combines Solana's performance with Bitcoin-level finality. All activity flows through its canonical bridge, which locks BTC on the base layer and issues an SVM-compatible version on Bitcoin Hyper. The bridged asset can then move freely throughout the ecosystem and be used across a wide range of applications.

bitcoin hyper layer 2

The broader discussion about TAM becomes particularly critical here. The store of value alone cannot propel Bitcoin into the multi-trillion range that Saylor envisions. BTC needs additional sources of demand and utility across DeFi, gaming, RWAs, and other application layers, which could very well unlock the next phase.

If even a few of these applications evolve into multi-billion-dollar ecosystems, it’s hard to contest that Bitcoin’s value could move significantly higher.

The HYPER Bet

Indeed, Bitcoin Hyper will play a central role in driving overall demand for BTC, but one token ensures that the ecosystem runs smoothly: HYPER. Since the project is directly linked to Bitcoin's activity and settlement layer, many investors believe that HYPER could grow in tandem with BTC.

As the ecosystem expands and more applications leverage BTC for transactions, the demand for HYPER—which is used to pay gas fees and fuel the network—naturally increases. Additionally, HYPER serves as both a staking and governance token of the ecosystem, providing holders with even stronger incentives to accumulate it early on.

To purchase HYPER, simply visit the Bitcoin Hyper website and buy it with SOL, ETH, USDT, USDC, BNB, or even a credit card. You can also instantly increase your holdings through the project's native staking protocol, which currently offers an impressive 40% APY.

Bitcoin Hyper also features the Best Wallet, which is widely regarded as one of the top crypto wallets on the market. HYPER is already listed in the Upcoming Tokens section, making it easy to purchase, track, and claim once the token goes live.

Join the Bitcoin Hyper community on Telegram and X to stay updated on the latest news about the project.

Visit Bitcoin Hyper.