Jimmy Wales passed a comment to support traditional banks and simultaneously to criticize Bitcoin (BTC).
Wikipedia is a 100% free-content online encyclopedia, written and maintained by a community of volunteers, collectively known as Wikipedians, through open collaboration and using a wiki-based editing system called MediaWiki. This platform survives because of the donations received from Wikipedia content readers.
On 11 Dec 2023, Jimmy Wales, co-founder of Wikipedia, took to X (formerly Twitter) to share his opinion on Bitcoin vs Banks. Wales said that one can lose all of his Bitcoin money if he forgets his password but the same thing is impossible for Bank holders.
The Wikipedia co-founder indirectly slammed all the Bitcoin proponents who support that form of money which is easy to lose from the point of mistakes.
Dogecoin co-founder Billy Marcus responded against Wales and indirectly trolled him for the money donation at which Wikipedia’s business runs.
Alex Gladstein, the Chief Strategy Officer at the Human Rights Foundation, responded and said that no doubt that Banks provide financial services under rules & laws but if it is better then why it is available to only 1/8th of the total world population?
Lyn Alden Investment Strategy founder Lyn Alden responded against Wales and dragged attention toward the immunity level of Banks which are not financially healthy enough to protect the bank money holders and also shared a story of a doctor who lost all of his bank money because he forgot his bank password.
Bitcoin proponent Samson Mow also criticized Wikipedia founder for not investing in Bitcoin & begging for donations to run the Wikipedia platform.
In 2017, Mow suggested to the Wikipedia co-founder to convert all the raised donations into Bitcoin to remain away from the annoying annual donation campaign.
Read also: SEC boss says “the agency could be changing its tack on Bitcoin”