OPINION: MSM’s Potential Narrative Casting Bitcoiners as the 1%

Some of last week's headlines have drawn an interesting parallel between the world’s wealthiest individuals and Bitcoin holders.

While Donald Trump’s inauguration and the launch of his and Melania Trump’s meme coins were widely covered to have contributed to the last week's price surge, mainstream media reports suggest that Bitcoin is increasingly being bundled together with the “financial elite”.

In doing so, Bitcoin were now part of last week's discussions on economic inequality and wealth concentration in the mainstream media, as they covered the billionaires gathering at the World Economic Forum in Davos.

An Oxfam report first published in AP News started it all.

The report claims billionaire fortunes expanded three times faster than in previous years, while poverty levels since 1990 have shown little change.

So it seems like a pocket of the media industry saw the timing of WEF in Davos, Trump winning the elections AND Bitcoin surging past $100,000 to create stories scrutinizing wealth concentration.

Now, this coverage is interesting to me because we now see how the MSM's potential plan to position Bitcoin’s rapid growth alongside calls for reforms to address inequality.

For outlets/reporters with an agenda, all-time high prices places Bitcoiners in the same category as other high-net-worth individuals.

And if you become a HNWI - according to some outlets - then you become a part of the traditional power structures.

The Trump Factor

Now, it seems like some pockets of the legacy media cannot let the opportunity slip away to add Trump on top of all this coverage.

Outlets such as Norway's Dagens Næringsliv and Cointelegraph report that Bitcoin surpassed $109,000 just as Trump assumed office, tying this surge to heightened market optimism about potential pro-crypto policy.

But as the Davos summit happened, more conventional media sources, such as The Independent and CBS News, are copy/pasting AP News' piece on how Bitcoin’s price surge, billionaire wealth, and global inequality converge into one broader debate.

This copy/pasting helps distribute the narrative on the implications of excessive wealth concentration, especially when even Bitcoin is seen contributing to an expanded pool of “digital millionaires.”

Take note, Bitcoiners.

This marks a change in Bitcoin perception.

For many, it signals Bitcoin’s entry into mainstream financial discourse.

But, that also brings new scrutiny.

As certain media outlets - particularly those critical of wealth concentration - intensify their coverage of “elite” gatherings, Bitcoiners should be prepared for a narrative that portrays them as part of a privileged class.

It's the legacy media version of "you got lucky".

So rather than celebrating this new spotlight uncritically, Bitcoiners would be wise to understand the potential consequences of being associated with a new "digital elite".

Get ready for coverage questioning whether Bitcoin truly advances financial inclusion or simply creates another layer of wealth for those who "got lucky and got in early."

Calls for reforms, like those highlighted by the Oxfam report, could become a rallying point for commentators who see parallels between Bitcoin millionaires and entrenched billionaires.

Bitcoiners should also acknowledge that public perceptions will be shaped by broader political and economic narratives.

So stay vigilant and engage constructively with the media so that the Bitcoin story remains focused on innovation and fight against a potentially new and growing narrative that Bitcoin is just a mere replication of existing power structures.

Sources and Links:

1. AP News – Davos 2025 & Oxfam Report

2. Dagens Næringsliv – Bitcoin’s All-Time High

3. Cointelegraph – Bitcoin All-Time High

4. The Guardian – Trump Meme Coins

5. The Independent – Wealth Inequality & Bitcoin

6. CBS News – Billionaires’ Wealth at Davos

7. BeInCrypto – New Bitcoin Milestone