Earlier this week, China’s largest mainstream media company People’s Daily defined Bitcoin as digital gold, further validating its legitimacy. Suddenly, investors and mainstream media outlets across the world have started to endorse and adopt Bitcoin.
Bitcoin to replace reserve currencies
In the past month, Bitcoin has received more extensive mainstream media coverage than it did in 2013 when interest in Bitcoin peaked.
Media companies and investment firms in South Korea, India, Australia and Japan have started to discuss the possibility of Bitcoin surpassing the value of certain reserve currencies in the far future as an alternative monetary and financial system.
Most recently, ABC News, a national news service in Australia produced by the Australian Broadcasting Corporation, reported that it is possible for Bitcoin to replace reserve currencies such as the US dollar in the next 10 years if it sustains its current exponential growth.
