Bitcoin graced the Financial Times front page. 132-year-old Financial Times, one of the largest international business newspapers in the world, featured bitcoin’s rise to $ 30,000 on its front page.
This comes just after the 12th anniversary of the cryptocurrency’s formation block, which featured the iconic The Times headline about bank bailouts during the global financial crisis in early 2009.
There is no mention of a balloon
Bitcoin’s historical rise has already captivated the attention of some of the biggest media outlets. The Reuters headline about Bitcoin’s lifetime peak has even been immortalized on the blockchain.
The crypto king hit an all-time high of $ 34,800 on his 12th birthday on January 3rd.
While Bitcoin’s meteoric rise in late 2017 is rightly dismissed as a bubble, even the skeptical mainstream media acknowledge that this time things actually felt different.
The Financials Times article particularly draws attention to the increasing corporate interest in Bitcoin, which makes it more “integrated” into the financial system. It also talks about PayPal’s crypto service introduced in October 2020.
Mainstream media continue to be skeptical
The mainstream media are constantly criticized by the community for negatively handling Bitcoin and other cryptocurrencies.
Investment manager Timothy Peterson claimed it was a “coordinated FUD” against cryptos conducted by the Financial Times in November. The newspaper’s editorial board claimed that Bitcoin has no core value and emphasized that its rally was entirely driven by speculators.
“Unfortunately, like gold, bitcoin’s status as a safe haven is more theoretical than anything else. Rather than stability, it offers investors the chance to speculate on volatility and the market’s sensitivity to the currency. ”