Hey everyone, nuke that TV dinner, fluff up the rocking chair pillows and let’s see what the mainstream media is saying about cryptocurrency!
NBC, broadcaster of such mind-numbing drivel as: America’s Got Talent, The Voice, Days of Our Lives, Timeless and a myriad of other programs has just written a doomsday piece about Bitcoin entitled:
“Bitcoin reached an all-time high last year. Now, you might be digging for coal.”
That’s just…dumb. Really dumb.
This type of coverage has swept across all major news outlets over the past year, they love anything extreme and will pounce on an opportunity to try and get attention.
Here’s another recent NBC piece about crypto with a similar outlook.
The author of the piece is a guy by the name of Nigel Chiwaya, a journalist from Columbia University in New York. It’s no doubt that in the backrooms of news stations like NBC there is an aging editor saying something along the lines of:
‘Hey! these Bitcoins the kids are into are losing their value, what goes up must come down, am I right? Guys, we need to jump on this with some really surface level coverage to increase our legitimacy over a generation we have completely alienated through TelePrompTers and hacky radio voices that no one uses in real life. Get it done! You, Nigel or whatever your name is, you went to Columbia, get a chart ready and make some reference to coal or something, millennials know all about coal.’
But, Bitcoin is up 399% over the past 2 years, that’s more than nearly every single bluechip tech stock in the world. The doomsday coverage often fails to mention this as it takes away from their bias.
Imagine starting a business that had 399% growth in its first 2 years. I believe there two reasons for the constant bashing of cryptocurrency:
- It’s sexy and on trend
- Societal regret for not buying it in 204-2017 and selling at the peak
To prove our point that this coverage is useless, let’s take a look at 3 crypto mining companies and how much money they are still making today.
1. Hive Blockchain (HIVE) has generated $17,183,881 in revenue in the last 6 months, with an operating cost of $8,879,956 mining crypto.
2. DMG Blockchain (DMGI) has generated $6,180,342 of revenue this year, with an operating cost of $3,530,149.
Some notable ones are:
Wayland Group (Formerly Maricann) (WAYL)
3. Hashchain (KASH) did $1,267,449 in revenue this year with an operating cost of $817,516
Disclaimer: DMG is a paid client of High Energy Trading, click here to read full disclosure.
High Energy Trading is not a licensed broker-dealer, market maker, investment advisor, or underwriter. All information that we provide is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities.