The phrase itself, sometimes with variations (such as Bitcoin “solves” or “can solve this,” for example), is a meme mostly used by crypto enthusiasts to point out that many inefficiencies of traditional finance systems can be solved by utilizing Bitcoin or blockchain technology in general.
The unknown author also projected the same image on the Parliament building. “Shit, I don’t even think BTC can fix that,” one commenter jokingly remarked.
Perhaps ironically, the Bank of England itself is quite skeptical towards Bitcoin, judging by its previous statements. As CryptoSlate reported, the bank’s governor Andrew Bailey opined that cryptocurrencies in their current form won’t last for long, speaking at the “Davos Agenda” forum in late January.
“Are cryptocurrencies here to stay? Digital innovation in payments, yes,” Bailey said, adding, “Have we landed on what I would call the design, governance, and arrangements for a lasting digital currency? No, I don’t think we’re there yet.”
In another instance, Bailey said he’s “very nervous” about Bitcoin last October, specifically about individuals trying to transact in the crypto.
“I have to be honest, it is hard to see that Bitcoin has what we tend to call intrinsic value,” he argued last October.
New meme, new NFT
While it is currently unknown who is behind the latest Bitcoin-centric initiative in London, a pseudonymous user nicknamed “Fraz” today launched a 24-hour auction for a non-fungible token (NFT) that represents a photograph of the projection. The token is being sold on digital marketplace
Rarible with a minimum bid of 0.1 Ethereum (roughly $295 at today’s prices), although no bids have been placed at press time.
“The original and only photo (3MB), with the Artist’s hidden hallmark, from April 30, 2021, of the epic projection onto the Bank of England,” Fraz claimed.
It is unclear whether Fraz is the actual author of the message. However, the user’s avatar closely resembles the signature on the projected image—and both of them appear to be starting with “F” and consist of around four letters. So far, this is the first and only NFT minted on Fraz’s account.
Meanwhile, the crypto “caped crusader” reportedly returned to the Bank of England’s building last night, projecting another meme this time around: “Money printer go brrrrrrrrrrrr.” It remains to be seen whether this one will end up as an NFT too.