The mainstream media is starting to support Bitcoin as an alternative to the failing fiat currency
Current fiat currency failures compelled media outlets to acknowledge BTC’s exceptional performance, despite the fact that the mainstream media is typically sceptical of Bitcoin.
Bitcoin (BTC) maintains a price range between $19,000 and $20,000 despite the USD’s assault on equities, commodities, and its competitor currencies, forcing the mainstream media to cover Bitcoin in the news.
The American daily newspaper The New York Times highlighted Bitcoin’s 6.5% price gain over the last week and observed that both crypto bulls and bearish had taken notice. In addition to the euro and pound, Fortune Magazine’s crypto site has compared Bitcoin’s exceptional performance to the Japanese yen, Chinese yuan, and gold.
With fiat currencies such as the euro and the British pound failing to maintain their value against the United States dollar (USD), major media sources have begun to highlight Bitcoin (BTC) for its consistent performance.
In contrast, Proactive’s title suggested that it could be time to “place everything on Bitcoin.” Despite dismissing the title as satire inside the article’s body, the author emphasized that the bulk of institutional investors want to end the current crypto winter.
In the meanwhile, the Australian news website news.com.au has emphasized the positive opinions of Bitcoin and blockchain application specialists. Some analysts have even projected that the BTC price may someday surpass $100,000.
In the meanwhile, as the British pound reached a new all-time low versus the US dollar, Bitcoin’s restricted supply may offer it an edge against the pound. According to the financial website Porkopolis Economics, the yearly issue rate of the pound has been 11.2% since 1970, whilst the annual issuance rate of Bitcoin is 1.6%. This dramatically reduces BTC’s supply issuance, which might possibly exacerbate the disparity between the two currencies.
Bitcoin’s price is not the only crypto-related story lately covered by conventional media. Prior to the beginning of September, prominent media sources also focused on Ethereum and its recent shift to a proof-of-stake (PoS) consensus method.
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