Mainstream media sentiment shifts in favor of Bitcoin amid fiat currency woes

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Regardless of USD bringing an onslaught to shares, commodities and its rival currencies, Bitcoin (BTC) holds regular on the $19,000 to $20,000 mark, leaving mainstream media no selection however to place BTC into the headlines.

American every day newspaper The New York Instances highlighted BTC’s 6.5% enhance within the final seven days and famous that this had caught the eye of crypto bulls and bears. In the meantime, Fortune Journal’s crypto outlet has additionally compared Bitcoin’s standout efficiency to different belongings just like the Japanese yen, Chinese language yuan and gold, other than the euro and pound.

With fiat currencies just like the euro and the Nice British pound sterling failing to hold their ground towards the US greenback (USD), mainstream media shops have began to place Bitcoin (BTC) into the highlight for its regular efficiency. 


Alternatively, the media outlet Proactive mentioned of their headline that it might be “time to place the whole lot on Bitcoin.” Regardless of brushing the headline as sarcasm throughout the content material of the article, the writer highlighted {that a} majority of institutional traders need to put an finish to the present crypto winter. 

In the meantime, the Australian information web site has highlighted specialists talking positively on Bitcoin and blockchain’s use instances. Some specialists even predicted that the BTC worth may finally hit a brand new all-time excessive of $100,000.

Associated: Crypto baffles mainstream media, but should blockchain advocates care?

In the meantime, because the British pound hit a brand new all-time low towards the US greenback, Bitcoin’s restricted provide may doubtlessly give it an advantage against the pound. In keeping with the finance web site Porkopolis Economics, the issuance fee of the pound has been 11.2% yearly since 1970 whereas BTC has a fee of 1.7%. This offers BTC a considerably decrease provide issuance and this might doubtlessly widen the hole between the 2 currencies.

Bitcoin’s worth isn’t the one crypto scoop that made it to the mainstream media highlight lately. Earlier in September, mainstream media shops additionally put their sights on Ethereum and its latest transition to a proof-of-stake (PoS) consensus mechanism.