Mainstream News Agencies Like Reuters Begins To Provide Positive Coverage Of Bitcoin
Mainstream News Agencies Like Reuters Begins To Provide Positive Coverage Of Bitcoin
December 3, 2020
Mainstream News Agencies Like Reuters Begins To Provide Positive Coverage Of Bitcoin
Mainstream News Agencies Like Reuters Begins To Provide Positive Coverage Of Bitcoin
December 3, 2020

A report said that mainstream news agencies are beginning to provide positive coverage of Bitcoin.

Reuters, the International news agency, marked the occasion with a story headlined:

“Dollar plummets on U.S. stimulus hopes; Bitcoin hits all-time peak.” 

It has been reported that the article noted the tumble coincided with the news of a second COVID relief bill being discussed in Congress and the recommencement of negotiations between the United States Treasury Secretary Steve Mnuchin and House of Representatives Speaker Nancy Pelosi.

However, the piece contrasted the falling dollar with the rising price of Bitcoin, which briefly surpassed all-time highs for the second day in a row on Tuesday. 

Erik Voorhees, the CEO of ShapeShift, said:

“Looks like a headline from 2024, but I guess we should assume it won’t be one headline, but many over the coming years.”

Likewise, some Bitcoiners compared the Reuters headline with that of the famed headline from The Times that is embedded in the Bitcoin genesis block: “Chancellor on brink of second bailout for banks,” noting the significance of the changes between now and then.

ALSO READ :  Celsius CEO Alex Mashinsky Gifts His Wife 15 Million CEL Tokens As A Birthday Present

The US Dollar Index is a measure of the value of USD relative to a basket of other currencies: the euro, Japanese yen, pound sterling, Canadian dollar, Swedish krona, and Swiss franc. Starting at a relative value of 100 in 1973, the index reached an all-time high of 151 in October 1984 and an all-time low of 71.8 in April 2008. Now, it sits at 91.1, a low not witnessed for more than two and a half years.

The USD has also fallen relative to a number of other currencies and heavily traded assets over the years, including many commodities and stocks.

Thus, the devaluation of the dollar via inflation was sped up this year by the US government’s attempts to provide COVID-19 relief in the form of economic stimulus, which, according to experts, is helping to drive the price of BTC to all-time highs.

Source: Cointelegraph


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Bitcoin Car Will Be Racing In Indianapolis 500 In May

Bitcoin Car Will Be Racing In Indianapolis 500 In May

Bitcoin car, the car branded with the Bitcoin logo, will be racing in circles against 32 others in this month’s Indianapolis 500. It has been reported by Jack Mallers, the CEO of Zap, that US racing driver Ed...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.