The media is talking about Trump's recent endorsement of bitcoin.
Looking at bitcoin sentiment data (box below)Coverage of bitcoin along with Trump has increased month after month since the beginning of the year, but last week saw quite a stir as the endorsement appears to be amplifying an already existing anti-bitcoin bias among some media outlets.
Forbes, Fox and CNBC covered Trump's move as a positive step for America's energy security and economic strength. They highlight how bitcoin mining could boost energy dominance and act as a defense against centralized digital currencies.
Fox News and Forbes, in particular, emphasize the strategic benefits of bitcoin, aligning themselves with libertarian and conservative values.
On the other hand, The Independent and The Washington Post are skeptical.
They suggest that Trump's support for bitcoin is a ploy to gain political and financial support. These outlets point out that Trump, who once dismissed bitcoin, now supports it, considering it an opportunistic change.
The polarized media landscape makes it difficult for the public to get a balanced view. Pro-Trump media focuses on the benefits of bitcoin, while anti-Trump media seeks to undermine its motives, reflecting the broader political divide.
Historically, left-wing media has criticized bitcoin primarily on environmental grounds, arguing that bitcoin mining consumes too much energy and harms the planet.
But now, Trump has taken center stage as his primary target. These outlets are questioning his motives, seeing his pro-bitcoin stance as a calculated political move rather than genuine support.
It's like they haven't bothered to delve deeper into what bitcoin represents beyond the usual.”power consumption = BAD“mantra.
Now it's just changed to “Trump = BAD”without a nuanced examination of the potential benefits of bitcoin for the people to whom it to portray represent or its role in technological innovation.
So is Trump's stance on bitcoin mining a strategic move or a political tactic?
It really depends on what output you let in as part of your content diet, because I will tell you different things.
But leaving aside the perception of the media – or even politics -; Trump's endorsement has certainly sparked a deeper conversation about bitcoin's role in US energy policy and technological innovation, and that could move the cultural needle, which is, when you think about it, potentially something more shocking than winning the presidency.
So, as we get closer to the November election, expect more heated debates for the peanut gallery via mainstream media coverage of bitcoin.
Because it's clear: it's not about bitcoin; It is just another front in the ongoing political battles being fought in the media landscape to tilt it to one political side.
This is a guest post by Fernando Nikolic. The opinions expressed are entirely their own and do not necessarily reflect those of btc Inc or bitcoin Magazine.
