While USD attacks competing currencies, stocks, and commodities, BTC maintains its value at around $19,000 to $20,000, forcing mainstream media to cover BTC in the news.
The New York Times, an American newspaper, highlighted Bitcoin's 6.5% gain over the previous seven days and observed that both crypto bulls and bears were taking notice of it. Apart from the Euro and the Pound, Fortune Magazine's cryptocurrency site has also contrasted Bitcoin's exceptional performance with other assets including the Japanese Yen, Chinese Yuan, and gold.
Mainstream media agencies have started to highlight Bitcoin (BTC) for its consistent performance as fiat currencies like the Euro and the Great British pound sterling have struggled to keep their ground against the United States dollar (USD).
On the other hand, the media outlet Proactive mentioned in their headline that it may be “time to put everything on Bitcoin.” Despite brushing the headline as sarcasm within the content of the article, the author highlighted that a majority of institutional investors are looking to put an end to the current crypto winter.
Meanwhile, the Australian news website news.com.au has highlighted experts speaking positively on Bitcoin and blockchain’s use cases. Some experts even predicted that the BTC price might eventually hit a new all-time high of $100,000.
Meanwhile, as the British pound hit a new all-time low against the US dollar, Bitcoin’s limited supply could potentially give it an advantage against the pound. According to the finance site Porkopolis Economics, the issuance rate of the pound has been 11.2% annually since 1970 while BTC has a rate of 1.7%. This gives BTC a significantly lower supply issuance and this could potentially widen the gap between the two currencies.
Bitcoin’s price is not the only crypto scoop that made it to the mainstream media spotlight recently. Earlier in September, mainstream media outlets also put their sights on Ethereum and its recent transition to a proof-of-stake (PoS) consensus mechanism.