The Independent covered the bull run for its 24 million subscribers.
Cryptocurrency has hit the headlines in the U.K., with The Independent reporting on Bitcoin’s recent yearly highs above $12,000.
An Aug. 18 report shows the major news publication, which has more than 24 million subscribers, covering the mid-pandemic bull run in the cryptocurrency markets.
“The latest gains mean the price of Bitcoin has nearly trebled since March, despite a global economic slowdown caused by the coronavirus pandemic,” the article stated.
“Other cryptocurrencies have mirrored Bitcoin’s fortunes, with Ether (Ethereum) rising from just above $100 in March to today’s price of $430.”
The Independent compared Bitcoin with gold as safe haven assets to which investors turn in “times of economic uncertainty.” The news outlet also cited business intelligence firm MicroStrategy purchasing $250 million in BTC to use as its primary reserve asset.
Crypto going mainstream
Bitcoin’s price has grown substantially in 2020 as central banks have pushed many unconventional measures to lessen the economic impact of the pandemic, prompting some companies and figures to reconsider crypto as a legitimate store of value.
In the U.K., Mike Novogratz’s Galaxy Digital printed a full-page cryptocurrency ad in international business newspaper Financial Times on Aug. 14, telling readers to “invest in Bitcoin” during these “uncertain times.” Richard Heart’s controversial HEX token also has ads plastered across London public transportation, in newspapers, and during soccer games.
Grayscale Investments released a 30-second spot on business and finance cable TV channels starting on Aug. 10, to which many viewers responded negatively on social media.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.