O.K. So there's been a lot of negative events in the cryptosphere over the last couple of years, most notably the FTX debacle.
However it's not all doom and gloom, especially not recently with the SEC seemingly moving towards approving several BTC ETFs.
And let's not forget that despite events such as FTX the BTC price has doubled in 2023, which suggests there is firm demand for it.
There's also countless small-wins along the way, with tokens such as RUNE (to pick just one example) seeing steady development and providing hodlers with some very decent returns over the years.
The BBC's crypto narrative is SO negative!
HOWEVER, the BBC seems DETERMINED to stick with an extremely negative crypto narrative...
If you type in 'BBC crypto' to Google this is what you get....
- 6/8 articles related to crypto crimes.
- 2/8 are what you might call factual.
The news is so biased and so thin there's even two repeats - two on the Binance story and two on the Sam-Bankman Fried story.
So at a glance you get the impression that crypto is fundamentally tied in with scams and illegal activity.
In fairness if you read through the 'NFT' article it provides a couple of case studies of people who used to be making a living out of selling NFTs, but have had to get their regular jobs back in the bear market....
But the tone is still negative.... personally the case of one woman having been able to take a couple of years out of work and sell NFT artwork for thousands of dollars, that is a massive win IMO, and as she said, she budgeted for a downturn and never expected the last bull-run to last.
But not even a sniff of the potential ETFs or the recent doubling in price of BTC this year on the mainstream BBC news...
They definitely have an anti-crypto bias, only reporting on the negatives and spinning what I regard as small success stories as crazy individuals whose time has come and gone!
Why the negative narrative...
Partly we can put this down to news as usual. Negativity and big events sell, especially when you can personalise them.
However I think there's more going on here. The BBC probably has an agenda to deliberately avoid reporting positive crypto news. I can easily imagine the execs seeing it as their public duty to NOT encourage what they would perceive as 'risky' investments.
Probably to the execs putting out an article outlining the doubling of the BTC price in 2023 and the possible approval of BTC ETFs could be interpreted as encouraging people to adopt crypto currency, which would be akin to encouraging people to gamble in the eyes of the mainstream, and defo against the Beeb's public service ethos.
So I am not surprised there is no balance in their news reporting, it's just safter to carry on spreading the FUD.
More for the rest of us, I geuss!