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JK Rowling jokes: "I’ve been trolling Bitcoin in the hope of boosting my significant Ethereum holdings"

Harry Potter admits bafflement at cryptocurrencies

Harry Potter author

Having excited and dashed the hopes of much of the crypto-sphere, Harry Potter author JK Rowling has joked that her digs at Bitcoin over the weekend were all an elaborate ploy to boost her Ethereum holdings.

It would appear that Gringotts Bank is not going to develop digital, decentralised versions of their Galleon, Sickle, and Knut coins anytime soon, as the billionaire writer has been left unimpressed by Bitcoin and the technology underlying it.

Over the weekend, a confused Rowling took to Twitter to ask: “I don’t understand Bitcoin. Please explain it to me.” This innocuous question provoked such a deluge of responses that within 24 hours Rowling stated:

“This started as a joke, but now I’m afraid I’ll never be able to log in to Twitter again without someone getting angry I don’t own Bitcoin. One day you’ll see a wizened old woman in the street, trying to trade a Harry Potter book for a potato. Be kind. She did try to understand.”

The creator of the Potter wizarding world was not ultimately won over by the Bitcoin’s purported attributes and, while recognising her own ignorance, simply observed: “I don’t think I trust this.”

It was not for want of trying, as numerous well-known figures endeavoured to help the Rowling understand.

Tesla and SpaceX CEO Elon Musk sympathised with her impression that Bitcoin was an ethereal and perhaps unreliable asset but conceded that “massive currency issuance by govt central banks is making Bitcoin Internet Ghost money look solid by comparison.” Musk also revealed that, despite his confidence in the crypto, he still only owns 0.25 BTC

As well as Coinbase boss Brian Armstrong, the founder of Ethereum (ETH), Vitalik Buterin, stepped into the fray, describing it as: “basically global digital payments, plus the store of value properties of gold, all with 21st century cryptographic tech to keep the whole thing running safely.”

This intervention could be said to have proved successful, on Monday, Rowling joked: “This is getting silly. I’m not joining the Bitcoin community. It should be perfectly obvious by now that I’ve been trolling Bitcoin in the hope of boosting my significant Ethereum holdings.”

Although Rowling's opinion was ultimately ambivalent, the weekend’s social media madness could prove to be boon for Bitcoin. A popular discussion of the world’s leading crypto led by someone with over 14.6 million followers will be welcome publicity.

By mid-afternoon Monday trading, Bitcoin stands down 0.4 per cent at around $9,680.

FURTHER READING: Is Bitcoin the best cryptocurrency to invest in now?

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