Weekly Media Recap #38
BTCP Staff
- 4 min read

Weekly Media Recap #38

Bitcoin, as covered in the mainstream media.

In this edition
Introduction

EOW closing BTC price: $65,713

Date range: April 8 - April 14, 2024

In this report:

  • Bitcoin is Coming After Gold
  • The Deutsche Bank Survey
  • A Classic Bull Cycle Indicator

Weekly Snapshot

The amount of mainstream media mentions last week. Source: https://bitcoinperception.com/data/
Sentiment analysis across all outlets. Source: https://bitcoinperception.com/data/
Leaderboard of the most published reporters/contributors last week. Source: https://bitcoinperception.com/data/

Main Topics of the Week

Bitcoin is Coming After Gold

It's been an interesting week watching various media outlets all of a sudden analyze the relationship between gold and Bitcoin.

While discussions about Bitcoin potentially challenging goldā€™s market cap have been around for years, recent reports add some new twists to the tale as gold hit new all-time highs.

The question to ask: Is this a major step for introducing this narrative to the mainstream so BTC can reach gold's market cap in the coming years?

Maybe, if you ask Forbes and The Economist - CNBC remains skeptical about the idea of these two assets going head-to-head across all fronts.

From left: Quotes from Forbes, The Economist and CNBC

The Deutsche Bank Survey

Last week brought up a fun classicā€”big banks conducting surveys that aim to criticize Bitcoin, only to reveal more support for it instead.

Deutsche Bank surveyed over 3,600 consumers and found that 52% now see cryptocurrencies as an "important asset class and method of payment transactions" for the future. That's a jump from less than 40% in a similar survey from September 2023.

While Reuters reported on this without much ado, Bryce Elder from the Financial Times had a more colorful take, comparing the opinions of Deutsche Bank's clients to a cymbal-clapping monkey living inside Homer Simpson's head.

A pretty dismissive view of regular peopleā€™s opinions on Bitcoin!

A Classic Bull Cycle Indicator

As markets surge, a classic indicator that we're in a bull market is the way institutionsā€”from Wall Street to Silicon Valley to multinational corporationsā€”embrace Bitcoin. They're always looking for the next big market trend or wave to ride.

Last week, several mainstream media outlets showcased a diverse range of topics that hint at potential major trends in this bull cycle, including Bitcoin Layer-2 solutions (Fortune), corporate blockchains (Forbes), and asset tokenization (Bloomberg).

Bloomberg highlighted that venture capital investment in crypto startups hit $2.5 billion in the first quarter of 2024, marking a 32% increase from the previous quarter.

But the question remains: How much of this investment surge is actually funneling back into Bitcoin itself?

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