While the US dollar takes a hit against its rival stocks, commodities and currencies, Bitcoin (BTC) remains solid at around $19,000 to $20,000, leaving the mainstream media with no choice but to put Bitcoin in the headlines.
The New York Times noted a 6.5% increase in BTC over the past seven days and noted that this attracted the attention of crypto bulls and speculators. Meanwhile, cryptocurrency magazine Fortune compared Bitcoin’s outstanding performance to other assets such as the Japanese yen, Chinese yuan and gold, with the exception of the euro and the British pound.
When fiat currencies such as the euro and the British pound failed to maintain their strength against the US dollar (USD), the mainstream media began to draw attention to bitcoin (BTC) due to its stable performance.
On the other hand, Proactive stated in its headline that it may be “time to bet everything on bitcoin.” Despite ignoring the title as sarcasm in the content of the article, the author emphasized that most institutional investors want to end the current crypto winter.
Meanwhile, Australian news site news.com.au has highlighted experts who speak positively about bitcoin and blockchain use cases. Some experts have even predicted that the price of BTC could eventually reach a new all-time high of $100,000.
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Meanwhile, as the British pound hit a new low against the US dollar, bitcoin’s limited supply could give it an advantage against the pound. According to the financial website Porkopolis Economics, since 1970 the pound issuance rate is 11.2% per year, while the BTC issuance rate is 1.7%. This gives BTC a much smaller supply and could widen the gap between the two currencies.
The price of bitcoin has not been the only news about the cryptocurrency to gain mainstream media attention recently. Earlier in September, the mainstream media also focused on Ethereum and its recent transition to a Proof of Stake (PoS) consensus mechanism.