‘Coordinated media FUD' about Bitcoin from Financial Times to Fox Business

‘Coordinated media FUD' about Bitcoin from Financial Times to Fox Business

Mainstream media outlets are finally reporting on the recent rally that saw Bitcoin creep close to its all-time high — but some commentators appear to be determined to spread FUD.

Two articles released within hours of each other earlier today — a Financial Times editorial titled ‘The elusive promise of Bitcoin,’ and a Fox Business piece called ‘Bitcoin no match for gold in coronavirus world’ — state that Bitcoin does not live up to its promise as a store of value.

There appears to be coordinated media FUD aimed at #bitcoin today – 2 articles in major media. As bitcoin succeeds, expect this FUD to intensify, well beyond reporting.https://t.co/AuMN04v37Xhttps://t.co/XUFdHS4ldU

— Timothy Peterson (@nsquaredcrypto) November 19, 2020

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The Financial Times focused on Bitcoin’s volatility, stating that its “status as a safe haven is more theoretical than anything else.” The editorial claims “there are no fundamentals on which to base a judgment of Bitcoin’s value. Its current price just reflects

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