Bitcoin Is A Big Deal, Unlike Mike Bloomberg's Glitzy Blogger Army - News 2.10.2021

Bloomberg News, lately the glorified opinion blog array of New York billionaire Michael Bloomberg, seems especially hurt that Tesla Motors lead man Elon Musk — also the world’s richest — has caught the Bitcoin bug.

In a regulatory filing, Tesla revealed it had stacked up $1.5 billion or so in the rare peer-to-peer cryptocurrency, and also plans to accept Bitcoin in the near future as a payment method.

Aren’t Mike Bloomberg and his cronies supposed to be arch-capitalists? Isn’t choice in money — competition in the value transfer layer, you know, the underlying asset all capitalists scramble for, capital — isn’t market choice in capital kind of the most capitalistic innovation ever? Shouldn’t it be supported, in principle if not in practice also?

Shouldn’t people who told us relentlessly at BTC $200 that it was a scam and untenable maybe sit this one out now that it is held by one of the world’s largest publicly traded companies? Those who didn’t get BTC at $200 or $2,000 can’t possibly be considered credible voices at BTC $46,500, unless failure is the new success and blind is the new visionary.

Bitcoin can’t get no respect — despite an estimated 200 million or more users and extraordinary run since the pandemic began, establishment financial media guard dogs in NYC refuse to call a win. BTC chart via Gemini.

Their silence would be the initial down payment on some long overdue humility from the billionaire-funded NYC financial media circus that still somehow has influence down here in DC, and throughout the world.

They continue to parrot years’ outdated old wives’ tales about crypto being mainly used by Dark Web baddies and drug users, yet somehow a credible publicly traded company beginning to use crypto doesn’t strike them as even remote disintegration of their tired talking point.

The rigged financial media are unmasked by their own zealous anti-crypto “bigotry” as protectors of their masters’ dusty world views, and maybe portfolios, rather than explorers of new opportunities and ideas. What we thought to be unbiased referees are not unbiased in the slightest, and will never call a fair win on the field, no matter how obvious it is to all the market spectators. The Bitcoin market is worth US $850 billion as of earlier today, yet the Bloomberg financial media empire still treats it as an oddity… funny how that works.