NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: BNB Reaches New All-Time High Of $956 As Binance Nears Deal With US DOJ

Economist Flips From Bitcoin Skeptic to Savant, Acknowledges Crypto’s Staying Power

Nick Chong
Nick Chong
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

To most in the Bitcoin (BTC) and crypto community, mainstream media is viewed with intense skepticism. Case in point, the leading cryptocurrency has been declared dead over 360 times according to 99Bitcoins.

Most of these attacks come from mainstream outlets, from CNBC and Forbes to the New York Post and Bloomberg. For instance, one Bloomberg op-ed headline published in January 2018 reads: “Sorry, Bitcoin Fans. Digital Currency Is Still a Dream.”

Related Reading: FUD Storm: Mainstream Media Back Bashing Bitcoin the Moment Markets Move

But, just recently, as BTC has surged past $10,000, one Bloomberg economist and column writer has flipped bullish on the cryptocurrency, acknowledging its value in this ever-changing world. Here’s a short synopsis of his story, aided by a Twitter thread from cryptocurrency commentator and writer Tony Sheng.

https://twitter.com/tonysheng/status/1144630555381604352

From Bitcoin Cynic to Believer

Since 2013, Tyler Cowen, a Bloomberg Opinion writer and economist, has been somewhat skeptical of Bitcoin’s value proposition. In 2013, he seemingly poked fun at the volatility of the cryptocurrency market, joking that volatility could be a redeeming factor of Bitcoin. He wrote at the time:

“Imagine you hold a currency which, over the next period will either double or halve in value. […] What a good deal that is!”

Cowen later published a piece in which he wrote “how and why Bitcoin will plummet in price”, noting that the digital asset market may get to a point where the equilibrium price of cryptocurrencies is the cost of marketing. Sounds confusing, we know, but the writer made the assumptions that all digital assets are one and the same.

A few years later, the writer noted that he wasn’t convinced that Bitcoin was doing to be a “big deal”. Sheng, the aforementioned compiler of these historical texts called this Cowen’s “skeptic ” phase, as the economist was trying to ground claims in the reality of economics.

Related Reading: Space Holds The Key to The Bitcoin (BTC) Moon Mission: Flipping Gold

But by 2017, things started to change. He wrote that BTC may actually be a good way for risk-averse individuals to store their wealth, even likening the seemingly nascent cryptocurrency to gold, just as firms like Grayscale have done time and time again.

Cowen’s journey to believer finished just recently, however, with his latest article for Bloomberg on this newfangled asset. Titled “Bitcoin is (Probably) Here to Stay”, Cowen gave a number of reasons why the cryptocurrency has a viable value proposition.

  1. The U.S.-China trade war, which pushes Chinese investors to find their way into safe havens.
  2. A left-leaning (economics-wise) political climate in the U.S., which may lead investors to store their value away from authorities (IRS).
  3. The launch of Libra, which Cowen believes increases the survivability of cryptocurrency.
  4. Hedge against uncertainty.

This journey is very similar to those of other market commentators on mainstream media outlets, many of which have started to acknowledge the value of Bitcoin in today’s macroeconomic climate. For instance, a Deutsche Bank analyst recently claimed that BTC may see use as a safe haven as central banks continue to push pro-inflationary policies.

Tyler Cowen has done a full 180 on Bitcoin and I’m here for it 👏

https://t.co/NJuj6xjbo9

— nic 🌠 carter (@nic__carter) June 28, 2019

Featured Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Price Back at Resistance

Bitcoin Price Back at Resistance – Fed Meeting Could Trigger Big Move

Bitcoin price is moving higher above $116,200. BTC is now consolidating and might gain bullish momentum if it clears the...

Aayush Jindal 3 hours ago
how to trade bitcoin fomc news

How To Trade Bitcoin Into September FOMC, Top Analyst Reveals

With the Federal Reserve set to announce policy on Wednesday, September 17, a closely followed trader has laid out a...

Jake Simmons 3 hours ago
Ethereum

Ethereum Bulls Target $8,500 With Big Money Backing The Move – Details

Ethereum rallied again this week as fresh institutional demand and heavy ETF inflows pushed traders to consider higher price paths....

Christian Encila 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

ethereum

Ethereum Rally Stalls As Spot And Perpetual Volumes Flatten On Binance

Ash Tiwari 1 hour ago
Bitcoin

Bitcoin Bull Score Sees Sharp Jump, No Longer Signals Bear Phase

Keshav Verma 2 hours ago
best-csgo-betting-sites-2025-review-cs2-gaming-tw

Peter Chow 3 hours ago

Premium Sponsors

Press Releases

  • Najbolji altcoini za kupnju dok Solana cijena doseže povijesni vrhunac

    Najbolji altcoini za kupnju dok Solana cijena doseže...

    17 minutes ago
  • 3 niskokapitalizirana altcoina koja bilježe snažnu akumulaciju dok se sezona altcoina zahuktava

    3 niskokapitalizirana altcoina koja bilježe snažnu...

    33 minutes ago
  • Trh s kryptoměnami se zahřívá: Bitcoin Hyper (HYPER), Wall Street Pepe (WEPE), Maxi Doge (MAXI) a PepeNode ve hře

    Trh s kryptoměnami se zahřívá: Bitcoin Hyper (HYPER)...

    7 hours ago
  • 3 nízko-kapitálové altcoiny, které zažívají masivní akumulaci během altcoin sezóny

    3 nízko-kapitálové altcoiny, které zažívají masivní...

    7 hours ago
  • A legjobb altcoinok, amiket érdemes megvenni, ahogy a Solana ára megközelíti történelmi csúcsát

    A legjobb altcoinok, amiket érdemes megvenni, ahogy a...

    8 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.