The Bank of England has been largely dismissive of Bitcoin, but crypto enthusiast [INSERT NAME] thinks it’s now time to change their tune. [INSERT NAME] has proposed a system whereby the Bank of England would adopt Bitcoin as the reserve currency within the British economy. This would have the effect of reducing the money supply, which [INSERT NAME] claims would increase the value of British pounds, and bring stability to the economy.
On Friday night, a giant image appeared on the Bank of England building in London with the words: Bitcoin will solve that.
Look what someone projected onto the Bank of England last night pic.twitter.com/DqGAeFfmjb
– Dominic Frisby (@DominicFrisby) May 1, 2021
The phrase itself, sometimes with variations (e.g. Bitcoin solves it or can solve it), is a meme used primarily by cryptocurrency enthusiasts to suggest that many inefficiencies of traditional financial systems can be solved with bitcoin or blockchain technology in general.
The unknown perpetrator projected the same image onto the parliament building. I don’t even think BTC can solve this problem, one commentator joked.
Bitcoin is projected onto the Houses of Parliament in London. Image: Twitter
It is perhaps ironic that the Bank of England itself is rather sceptical of bitcoin, judging by its previous statements. Bank CEO Andrew Bailey was quoted as saying when he spoke at the Davos Forum in late January that cryptocurrencies in their current form will not have a long life.
Are cryptocurrencies here to stay? Digital innovation in payments, yes, Bailey said, adding: – Have we arrived at what I would call the design, governance and mechanisms of a sustainable digital currency? No, I don’t think we’re there yet.
On another occasion, Bailey said he was very nervous about bitcoin last October, including people trying to trade the cryptocurrency.
I have to be honest, it’s hard to see that bitcoin has what we call intrinsic value, he argued last October.
New meme, new NFT
While it’s unclear who’s behind the latest bitcoin-focused London initiative, a user under the pseudonym Fraz has today launched a 24-hour auction for a smokeless token (NFT) that’s a picture of a projection. The token is for sale on the digital exchange platform Rarible with a minimum bid of 0.1 Ethereum (approximately $295 at the current price), although no bids have yet been placed at the time of publishing this article.
The original and unique photo (3 MB) with the hidden stamp of the artist of 30. April 2021, which shows an epic projection over the Bank of England, Fraz says.
It’s not clear if Fraz is the actual author of the post. However, the user’s avatar is very similar to the caption of the projected image, and both start with F and consist of about four letters. So far, this is the first and only NFT hit on Fraz’s account.
Looks like our cape crusader paid another visit to the Bank of England last night pic.twitter.com/loeQUWV9ml
– Dominic Frisby (@DominicFrisby) May 2, 2021
Meanwhile, a cryptocurrency crusader in a cape reportedly returned to the Bank of England building last night and this time projected a different meme: The ticket printer goes brrrrrrr. Everyone wonders if he won’t end up in the NFT as well.
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