60 Minutes Discusses Bitcoin

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So– okay. (CHUCKLE) Sorry, let me just get this straight. You spent about $800 million on pizza?

Anderson Cooper, Bitcoin’s Wild Ride

One of the exciting things that happened this week was CBS 60 Minutes aired a 13 minute segment on Bitcoin. It has received some criticism as being one sided but still worth a watch. 60 Minutes averages 11 million viewers so this is a good step for mass market adoption.

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MOON
Who’s up…

Popularity Contest… Bitcoin is back among Google’s most-popular keywords for the first time in over twelve months. Google Trends tracks search interest for certain terms. Interestingly, the countries that are leading the Google searches are not cryptocurrency powerhouses: South Africa, The Netherlands, Slovenia, Austria, Nigeria.

60 Minutes Aired Bitcoin… Bitcoin was on display for CBS popular show, 60 Minutes. Anderson Cooper reports on how bitcoin was started, where it may go and some of the people who have ridden the cryptocurrency roller coaster over the last 10 years.  Watch.

Takeaways: The 60 Minutes segment on Bitcoin is worth a watch although I think John Oliver on Last Week Tonight was better done. The segment spent a great deal of time interviewing an early adopter of Bitcoin that spent 10,000 Bitcoin on pizza. The last time the Google search result for Bitcoin reached this level was in October 2017, months before it reached all time highs.

REKT
…Who’s down

Mr. Not-so Wonderful…Mr. Wonderful’ Kevin O’Leary, most famously known for his role on Shark Tank, says Bitcoin is essentially a “digital game” and is “worthless.” “People should understand today the hot digital is bitcoin,” O’Leary added. “Tomorrow it could be whatever.”

Schiff’s 60 Minutes Dis… Peter Schiff was not of fan of the 60 Minutes coverage of Bitcoin. Tweeting hours later, “60 Minutes just aired a free commercial for Bitcoin. Great press for Bitcoin owners looking to sell to CBS viewers who may be suckered into buying based on this very one-sided segment. At a minimum CBS owed its audience a healthy degree of skepticism. Very bad reporting as usual!” View Tweet.

Takeaways: I share the name Kevin but not his opinion on Bitcoin as being worthless. Kevin’s investment strategy is similar to Warren Buffett who is also not buying into Bitcoin. Kevin also has a 400 million dollar interest in preserving USD as the global currency. Schiff’s stance on Bitcoin comes at no surprise. He has expressed doubts in the past. The 60 Minutes segment was a bit one sided but wasn’t misleading and there is only some much you can cover in 13 minutes.

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