The meme cryptocurrency HarryPotterObamaSonic10Inu (BITCOIN) surged by 70% after Ethereum co-founder Vitalik Buterin corrected a misstatement about the token in his essay.
On January 31, a user on X with the handle digitalartchick noted that Buterin had mistakenly labeled the meme cryptocurrency as a scam.
Hey @VitalikButerin I woke up to you calling one of my favorite coins a scam
Regardless of your thoughts on memecoins, and without getting into a philosophical debate, you simply got this one wrong
This is one of the most vibrant communities in crypto, and they have built… pic.twitter.com/KJwpcMC3tX
— artchick.eth (?,?) (@digitalartchick) January 31, 2024
“I woke up to you calling one of my favorite coins a scam. Regardless of your thoughts on meme tokens and without getting into philosophical debates, you simply got this one wrong,” he emphasized.
On February 2, Buterin responded to the post and acknowledged the correction. In a comment on the note, he apologized “for the confusion” and added that BITCOIN is not a scam.
Fixed! pic.twitter.com/zMCmhYNRMf
— vitalik.eth (@VitalikButerin) February 2, 2024
According to CoinGecko, following the publication of his response, the token’s price momentarily rose from $0.042 to $0.0075—nearly a 70% increase. However, prices quickly adjusted to around $0.051.
Defending BITCOIN, a user also highlighted that the project’s community helps build water wells for Nigerian residents and sponsors a local children’s football team.
Look at these children getting scammed into clean demon free water! pic.twitter.com/vdgXDnXfid
— sir_snoo (@sir_snoo) January 31, 2024
“Look at these children getting scammed into clean water,” one user joked.
Previously, Buterin released an essay titled “The End of My Childhood,” marking his 30th birthday, where he reflected on his journey as an Ethereum developer and pondered the future of blockchain.
Earlier in January, the programmer discussed the potential for cryptocurrencies to interact with AI. In his view, blockchain could counteract AI centralization, ensuring transparency, data storage, and security.