Bitcoin on '60 Minutes': the community reacts

20 May, 2019
by David Robb
Bitcoin on '60 Minutes': the community reacts

The popular network TV news show '60 Minutes' recently aired with a segment on Bitcoin and cryptocurrencies. Crypto Twitter is now being flooded with opinions on this latest mainstream media coverage.

It appears that the 60 Minutes segment on Bitcoin was predictably basic and light on details, not really delving into the specifics of how crypto can impact the global economy.

Many observers pointed out the irony that the first segment on the same episode was about banks engaging in money laundering, as this practice is regularly cited by regulators and opponents of crypto as an example of something that will be harder to tackle if adoption becomes more widespread.

Some praised the even-handed and generally objective approach of the segment, compared to the anti-crypto FUD that often comes from mainstream media outlets. However, the choice of Charlie Shrem as an interview subject was questioned, due to his limited influence in the space and the fact that he has been convicted of crimes related to Bitcoin.

Hedge fund manager and crypto influencer Anthony 'Pomp' Pompliano also pointed out that one Federal Reserve banker was unable to properly address issues relating to manipulation of currencies and how Bitcoin fits into this, suggesting that this might be a minor victory for the crypto space. In general, opinion appears to be split on whether the coverage will prove bullish or bearish for Bitcoin.

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Read more about: Bitcoin (BTC)

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