The Financial Times, one of the largest business newspapers in the world, which already has 132 years of history, highlighted the rise of Bitcoin above $ 30,000 on its front page. This occurred shortly after the 12th anniversary of the first block of cryptocurrency, which includes The Times' iconic headline on bank bailouts during the global financial crisis in early 2009.
The historic rise of Bitcoin has already captured the attention of some of the biggest media outlets. The Reuters headline about Bitcoin's peak life has even been immortalized on its blockchain.
While Bitcoin's meteoric rise in late 2017 was correctly highlighted as a bubble, even skeptical mainstream media admits that things are really different this time around.
The Financial Times article particularly notes the increased institutional interest in Bitcoin, which makes it more "integrated" into the financial system. He also mentions PayPal's cryptocurrency service that launched in October 2020.
The mainstream media remains skeptical
The mainstream media is constantly criticized by the community for its unfavorable coverage of Bitcoin and other cryptocurrencies. In November, the Financial Times editorial board stated that Bitcoin had no fundamental value and its recovery was purely driven by speculators:
Unfortunately, like gold, bitcoin's status as a safe haven is more theoretical than anything else. Instead of stability, it offers investors volatility and a chance to speculate on market sentiment towards the currency.
But what is your opinion about Bitcoin as a store of value? Leave your comment just below the post.
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