Newsweek’s Positive Bitcoin Coverage Highlights Paradigm Shift in Public Perception

Newsweek, one of America’s largest weekly news magazines, took a positive turn on Bitcoin (BTC) in a recent article that explores whether the digital asset can become the new gold standard.

The article, which appeared on Wednesday, dissects the digital gold narrative using the latest model from JPMorgan Chase showing a potential BTC price of $ 146,000. While the article presents little new information for crypto enthusiasts who have traced Bitcoin’s meteoric rise, it further confirms that the traditional narrative surrounding cryptocurrency has changed.

“All that glitters is not gold, but it could be Bitcoin,” Scott Reeves wrote. “And in the long run, it could be more valuable.”

This is the message that appeared to Newsweek’s readership of tens of millions, many of whom have never been exposed to Bitcoin.

Earlier this week, Bitcoin made headlines in the Financial Times – on the 12th anniversary of the genesis block, nothing less – offering further proof that the general public can no longer ignore BTC.

In the meantime, more and more investors are flooding the market because attested by the sharp increase in active addresses and the growing interest of companies and large institutions.

According to podcaster Peter McCormack, new users are entering Bitcoin for the long term, perhaps at least for the next three to five years. BitPay Chief Commercial Officer Sonny Singh shares this sentiment, but recently argued that a further surge in the price of BTC could lead to institutional profit taking.

Google search trends suggest FOMO retailing, or the fear of missing out, is ramping up in the new year – a potential forerunner to higher prices in the near term.

Searches for the word “Bitcoin” were tame during last year’s bullish trend versus the 2017 bull market. Once again, this suggests that Bitcoin’s less resistant path may be higher.

It remains to be seen whether the understanding of Bitcoin retailing improves or if people are paying attention to it simply because of the appreciation in prices. In either case, Bitcoin’s value proposition is no longer relegated to the dark and esoteric corners of the internet.