1 year ago
86 While mainstream media mostly remains careful against Bitcoin, the current fiat debacles left outlets with no option but to recognize Bitcoin’s standout performance.
Despite the USD bringing an onslaught to commodities, stocks, and its rival currencies, Bitcoin holds steady at the $19,000 to $20,000 mark, leaving mainstream media no choice but to put Bitcoin into the headlines.
American daily newspaper The New York Times highlighted BTC’s 6.5% increase in the last seven days and noted that it had caught the attention of crypto bulls and bears. In the meantime, Fortune Magazine’s crypto outlet has also compared Bitcoin’s standout performance to many other assets like Chinese Yuan, Japanese Yen, and gold, apart from the pound and the euro.
With fiat currencies like the euro and the Great Britain pound sterling failing to hold their ground against the US dollar (USD), mainstream media outlets have begun putting Bitcoin into the spotlight for its steady performance.
On the flip side, the media outlet Proactive mentioned in their headline that it might be “time to put everything on Bitcoin.” Despite brushing the headline as sarcasm within the Content of the article, the author highlighted that a majority of institutional investors are aiming to put an end to the current crypto winter.
In the meantime, the Australian news site news.com.au has highlighted experts speaking positively on blockchain and Bitcoin’s use cases. Some experts even projected that the price of Bitcoin might eventually hit a new all-time high of $100,000.
The British pound hit a new all-time low against the US dollar, Bitcoin’s limited supply may possibly give it a significant advantage against the pound. Based on the finance site Porkopolis Economics, the issuance rate of the pound has been 11.2% annually since 1970 while Bitcoin has a rate of 1.7%. This gives bitcoin a considerably lower supply issuance and it might possibly increase the gap between the two currencies.
Bitcoin’s price is not the only crypto scoop that made it to the mainstream media spotlight recently. Earlier in September, mainstream media outlets also put their sights on Ethereum and its recent transition to a viable proof-of-stake (PoS) consensus mechanism.
