UK Newspaper The Independent Covers Bitcoinâ€™s Mid-Pandemic Bull Run
The Independent covered the bull run for its 24 million subscribers.
Cryptocurrency has hit the headlines in the U.K., with The Independent reporting on Bitcoinâ€™s recent yearly highs above $12,000.
An Aug. 18 report shows the major news publication, which has more than 24 million subscribers, covering the mid-pandemic bull run in the cryptocurrency markets.
â€œThe latest gains mean the price of Bitcoin has nearly trebled since March, despite a global economic slowdown caused by the coronavirus pandemic,â€� the article stated.
â€œOther cryptocurrencies have mirrored Bitcoinâ€™s fortunes, with Ether (Ethereum) rising from just above $100 in March to todayâ€™s price of $430.â€�
The Independent compared Bitcoin with gold as safe haven assets to which investors turn in â€œtimes of economic uncertainty.â€� The news outlet also cited business intelligence firm MicroStrategy purchasing $250 million in BTC to use as its primary reserve asset.
Crypto going mainstream
Bitcoinâ€™s price has grown substantially in 2020 as central banks have pushed many unconventional measures to lessen the economic impact of the pandemic, prompting some companies and figures to reconsider crypto as a legitimate store of value.
In the U.K., Mike Novogratzâ€™s Galaxy Digital printed a full-page cryptocurrency ad in international business newspaper Financial Times on Aug. 14, telling readers to â€œinvest in Bitcoinâ€� during these â€œuncertain times.â€� Richard Heartâ€™s controversial HEX token also has ads plastered across London public transportation, in newspapers, and during soccer games.
Grayscale Investments released a 30-second spot on business and finance cable TV channels starting on Aug. 10, to which many viewers responded negatively on social media.
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