Bitcoin in the Headlines: Media Ga-Ga for Goldman Sachs

Bitcoin in the Headlines is a weekly look at global bitcoin news, analysing media coverage and its impact.

bitcoin in the headlines

Ever-hungry for product launches and splashy funding rounds, the mainstream media was sent into a frenzy this week as Circle announced the closure of its $50m round and Coinbase confirmed it was expanding across the pond to the UK.

Despite seemingly good news for the bitcoin ecosystem, misreporting – and inaccuracies – featured across most outlets. Meanwhile, some journalists also questioned the need for substantial funding rounds, given that some startups were not highly concerned with return of investment (ROI).

CoinDesk takes a look at this week’s top bitcoin-related headlines.

Misreporting on the money

An investment bank like Goldman Sachs pouring money into a bitcoin company was always going to capture the media’s attention, as such investments legitimise the currency in the eyes of naysayers.

So it comes as no surprise that a quick google news search featuring the words ‘bitcoin’ and ‘Goldman Sachs’ brought up over 90 news articles since the announcement was published yesterday.

The New York Observer‘s Jack Smith IV wrote a piece titled It’s Happening: Goldman Sachs Just Dropped

Read more ... source: CoinDesk