mainstream arrived – Newsweek also reports positively on Bitcoin
The well-known weekly magazine gives the cryptocurrency a positive review in its current issue.
Newsweek, one of America’s most influential weekly magazines, has spoken positively about Bitcoin (BTC) in a new article, discussing whether the market-leading cryptocurrency could possibly usher in the new gold standard.
Wednesday’s article reviews the thesis of Bitcoin as digital gold, citing a calculation model from investment bank JPMorgan that issues a price target of up to US$146,000. Although the article does not provide any new Bitcoin Rush information for long-time crypto fans, it is at least a confirmation that the perception of Bitcoin in the mass media and among the general public has now turned significantly to the positive.
„Everything that glitters is not gold, but perhaps Bitcoin,“ as author Scott Reeves writes in his article. To that effect, he adds, „In the long run, it could be even more valuable.“
This, then, is the picture that Newsweek’s readership, numbering in the millions, is getting. Many readers are probably coming into contact with the cryptocurrency for the first time, which makes this positive first impression all the more important.
Earlier this week, Bitcoin was already on the front page of the Financial Times, ironically enough exactly on the twelfth „birthday“ of the first Bitcoin block, which also illustrates that the public is no longer ignoring the cryptocurrency.
Perhaps also for this reason, more and more investors are flocking to the market, which can be seen in the fact that the number of new wallet addresses has abruptly gone up.
Sonny Singh, the COO of BitPay, agrees with this assessment
Crypto podcaster Peter McCormack reckons these investors have long-term intentions, and are likely to want to invest for the next three to five years. Sonny Singh, the COO of BitPay, agrees with this assessment, but fears that a further upswing in Bitcoin could lead to some institutional investors booking out partial profits, causing a reversal.
The development of Google search queries for Bitcoin indicates that more and more private investors are probably getting „gateway panic“ (FOMO), which could further fuel the price, at least in the short term.