Former Bloomberg News reporter Matthew Leising, who is co-founder of DeCential Media, writes for CoinDesk about how the mainstream media doesn’t understand how to cover cryptocurrencies.
Leising writes, “I wish I’d kept track of the number of editors and other reporters I’ve given the crypto 101 speech to, and there are many in that newsroom and others all over the world who still think it’s a scam. It’s hard to know how to separate the daily news mentality from this certain kind of disdain, I think, as the news needs to be fed every day and never stops. It needs new stories, new sagas, and the rise and fall of Bitcoin fits that schema perfectly. Financial markets know all about froth and bubbles and internet companies with negative revenue and hundred-million-dollar valuations. And they know about the inevitable crash.
“Going through the crypto winter of 2018-2019 as a reporter was one of the most valuable experiences I could’ve wanted. The euphoria of $20,000 bitcoin and ether at $1,400 led to some reckless behavior across the board, and newsrooms were no exception. Again, I understand this part. What I discovered that eventually disappointed me was how few in the media took that downturn to learn about this new way of organizing and transacting.”
Read more here.