This week's report dives into the mainstream media's reaction to Trump's latest Bitcoin-related promises.
For readers interested in more detailed and up-to-date coverage, the new Trump Media Tracker offers a comprehensive look at how mainstream media is covering Trump and Bitcoin.
EOW closing BTC price: $68,245
Date range: July 22 - July 28, 2024
Weekly Snapshot
This week's report analyzes how the mainstream media has covered former President Donald Trump’s stance on Bitcoin.
The focus is on identifying key patterns and trends in the media's portrayal of Trump’s involvement with the Bitcoin community, including campaign strategies, policy promises, and the resulting sentiment.
Let's get started.
Positive Coverage
Outlets such as Barron's and Bloomberg have generally portrayed Trump’s pro-Bitcoin stance positively.
For instance, Barron's is indicative of a favorable view of Trump's commitment to supporting Bitcoin. The financial outlet consistently emphasizes the potential benefits of Trump's promises for the Bitcoin market, suggesting optimism about the economic implications of his policies.
Similarly, Bloomberg discussed the transformative potential of Trump’s support for Bitcoin, presenting his policies as advantageous for the US economy.
This positive sentiment extends to other angles within their coverage, such as those discussing Trump's pledge to integrate Bitcoin into his "America First" agenda, highlighting significant policy focus on Bitcoin.
To get an overview of the entire coverage, visit the Bitcoin Perception data dashboard.
Negative Coverage
Negative sentiment was more prevalent in some outlets last week.
The media outlets that have tagged Trump’s stance on Bitcoin negatively include AP News, BBC, Daily Mail, Financial Times, Reuters, Rolling Stone, The Globe and Mail, and Washington Post.
In general, the coverage reflect skepticism about the stability and potential impact of Trump’s Bitcoin policies.
The Daily Mail highlights inconsistencies in Trump’s stance on Bitcoin, pointing out his previous negative remarks about it while pledging to make the US the 'crypto capital' of the world.
The Globe and Mail raise concerns about potential corruption and political maneuvering, suggesting that Trump’s Bitcoin policies might be influenced by large financial contributions from crypto giants.
Rolling Stone implies that Trump’s pro-Bitcoin stance could be driven by financial interests rather than genuine support for the technology.
Conclusion
In analyzing yesterday's coverage, several recurring arguments by anti-Trump outlets are notable:
- "His desire to add BTC to the country’s strategic reserve doesn’t mean it will happen"
- "The price is no higher now than it was before his keynote"
- "He criticized Bitcoin in 2019"
These points illustrate a consistent skepticism from left-leaning outlets about the feasibility and sincerity of Trump’s Bitcoin-related promises.
The media landscape also highlights a broader phenomenon where individuals’ pre-existing biases influence their reception of Trump’s statements.
Those who are already supportive of Trump selectively highlight statements that reinforce their favorable view, while those opposed to Trump do the same with criticisms.
Also remember our previously published opinion piece: left-leaning outlets have amplified their anti-Bitcoin bias following Trump’s endorsement of Bitcoin, and this development underscores how the typical left-right political divide is now permeating the discourse around Bitcoin.
A trend that is expected to intensify as the November presidential elections approach.
