From doubt to acceptance: How the media started taking Bitcoin seriously at $100,000

Bitcoin (BTC) has reached the historic milestone of $100,000, but the road to get there was anything but easy. Since its inception in 2009, the largest cryptocurrency has faced fierce criticism and fluctuations in how mainstream media (MSM) covered it.

When Bitcoin started to gain attention in the early aughts, most messages were critical.

• 2011 – “The end of Bitcoin?” (Forbes): After a price drop from $17 to virtually nothing, Forbes declared that Bitcoin was not a viable currency. Criticism focused on the lack of liquidity and security.
• 2013 – “Satoshi’s anonymity is a red flag” (CNN): Bitcoin was labeled as a risk because of its pseudonymous founder. Critics highlighted the possibility of abuse by criminals.

Slowly changing tone

With Bitcoin’s growing prominence and institutionalization, the tone of the media also began to change, although skepticism often remained.

• 2013 – “Bitcoin is legit” (Bloomberg): For the first time, experts highlighted Bitcoin’s strengths, such as its predictable monetary supply and cross-border transaction capabilities.
• 2018 – “Bitcoin is an energy drain” (Washington Post): As Bitcoin’s network grew, criticism focused on the environmental impacts of high energy consumption.

Current perception: from criticism to cautious optimism

With the recent adoption of Bitcoin ETFs and the rise to $100,000, the media remains divided.

• 2021 – “Too slow and expensive” (New York Times): Bitcoin was criticized for network congestion and high transaction fees.

• 2024 – “ETFs offer opportunity, but be careful” (CNN): Although ETFs offer broader access, media continue to warn of risks such as market manipulation and volatility.

Bitcoin’s Future: Criticality Remains, but Acceptance Grows

The recent price increase to $100,000 underlines Bitcoin’s growing adoption and market demand. Yet some media outlets remain skeptical about Bitcoin’s role as a currency. They argue that its volatility and speculative nature make it difficult to see it as a widely accepted means of payment.

Whether the media will ever fully buy into Bitcoin’s potential remains uncertain. But one thing is clear: the journey to the next $100,000 will likely be just as eventful as the first.

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