Arrived in the Mainstream – Newsweek also reports positively about Bitcoin

The well-known weekly magazine reviews the cryptocurrency positively in the 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 may 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 $146,000. Although the article does not provide any new 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 accordingly 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, which numbers in the millions, is getting. Many readers are likely coming into contact with the cryptocurrency for the first time, which makes this positive first impression all the more important.

Earlier this week, Bitcoin Circuit was already on the front page of the Financial Times, ironically on the very twelfth „birthday“ of the first Bitcoin blockchain, which also illustrates that the public is no longer ignoring the cryptocurrency.

Perhaps for this reason, more and more investors are flocking to the market, which can be seen from the fact that the number of new wallet addresses has abruptly gone up.

Crypto podcaster Peter McCormack believes these investors have long-term intentions, and are likely looking to invest for the next three to five years. Sonny Singh, the COO of BitPay, agrees with this assessment, but worries that a further upswing in Bitcoin could lead to some institutional investors booking out partial profits, causing a reversal.

The development of Google searches 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.

Searches on the word „Bitcoin“ during the current run-up are still low compared to the hype of 2017, which suggests that there is still room for improvement at the moment.

However, it remains unclear whether the general public’s understanding of Bitcoin has changed or whether the renewed interest is merely due to the rapid price increase. Regardless of what ultimately emerges, the added value of Bitcoin is no longer known only to a few.