Will 60 Minutes cause a Bitcoin rally or FUD?

19 May, 2019
by Will Heasman
Will 60 Minutes cause a Bitcoin rally or FUD?

Last week it was revealed that 60 Minutes – one of America's most popular TV shows – was going to air an episode on Bitcoin. For many this marked a momentous development as a massive demographic of mainstream America looks set to become exposed to Bitcoin. Others remained trepidations about whether or not the show will depict Bitcoin in a positive light. So, will 60 Minutes provide Bitcoin with a pump? Or just add to mainstream FUD?

Tonight an average of 11.4 million people will watch a 60 Minutes segment dedicated to Bitcoin, and the community remains divided on whether Bitcoins best attributes will be on show or if they’ll focus on (as many other mainstream outlets have) the darker sides of the digital currency.

All publicity is good publicity.

Regardless of which way the show lands, exposure on this level can only be a good thing; and today Bitcoin has seemingly responded to this upswing in interest and anticipation by posting a price point over $8k; but will this continue?

Soothing the minds of those who are worried about Bitcoin’s reputation are the trailers, which so far appear wholly positive.

The teasers have included several interviews with crypto experts explaining the intricacies of Bitcoin and the wider cryptocurrency ecosystem. One such interview is with early adaptor and entrepreneur, Charlie Shrem. Although this undoubtedly involves a discussion into his stint in Jail for what was deemed conspiracy to commit money laundering, Shrem is still an expert in his field and a prominent champion of Bitcoin.

The show will also include a segment on Bitcoin’s enigmatic creator, Satoshi Nakamoto, as well as educational insights into cryptocurrency explaining (albeit badly) what crypto actually is, and how it works:

Laszlo Hanyecz, or ‘the Bitcoin pizza guy’ - as he has become known- will also be interviewed. Hanyecz, a Bitcoin programmer infamously paid 10,000 BTC for two pizzas from papa johns back in 2010. The USD equivalent back then was around $25…

To Pump or not to pump…?

For the most part people believe that this mainstream exposure will prove to be fairly bullish, with some suggesting that a pump may be in store:

One user suggested that even if a small percentage of those who watch the show are encouraged to invest it could see BTC move adding that altcoins could also benefit as investors look for a cheaper alternative to BTC.

Further to this, a Reddit discussion around the promise of a BTC pump following the segment alludes to a cryptocurrency exchange commercial airing during the show which could prompt potential buyers to invest.

The show is set to air tonight (May 19th) at 7 pm ET (11 pm UTC).

What do you think will happen after the segment airs? Will we see an upswing in Bitcoin? A dump? Or nothing?

Let us know your thoughts in the comments!

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