Author: Brayden Lindrea, CoinTelegraph; Compiled by: Five Baht, Golden Finance

Since its launch in 2009, Bitcoin has reached the historic $100,000 milestone nearly 16 years later, but for OG The road has not been easy for Bitcoin enthusiasts, who have had to endure some of the most brutal attacks from big names in the mainstream media (MSM).

In 2011, when Satoshi Nakamoto, the anonymous creator of Bitcoin, disappeared from Bitcoin discussion boards, media coverage of Bitcoin slowly began to increase.

It attracted the attention of media outlets such as Forbes, the New York Times, the Washington Post, Bloomberg, and CNN, with mostly negative reports, and there is no doubt that this greatly affects comparisons in today's society. Bitcoin view.

However, as Bitcoin surged to new highs and became more institutionalized in the early 2020s, the proportion of positive Bitcoin stories increased.

The split between MSM neutral, negative or positive cryptocurrency-related stories since 2013. Source: Bitcoin Perception

Here are some of the cruelest headlines and comments Bitcoin enthusiasts have faced on the road to $100,000.

"So, This Is the End of Bitcoin" - Forbes 2011

In June 2011, when the price of Bitcoin dropped from "$17 to pennies in minutes," Forbes ” prematurely announced the end of Bitcoin.

The plunge in Bitcoin prices was triggered by a trader trying to sell more Bitcoin than the cryptocurrency exchange Mt. Gox could handle.

Forbes incorrectly called 2011 the end of Bitcoin. Source: Forbes

Former Forbes opinion writer Tim Worstall claims that Bitcoin is not liquid or secure enough to be a medium of exchange or store of value - This was a semi-credible view at the time, but it seems less so now.

Bitcoin price at the time: $17

Satoshi Nakamoto’s anonymity was a ‘huge red flag’ – CNN, 2013

Many critics failed to understand that Bitcoin was a The idea of ​​remaining secure despite the unknown anonymous creator, including former CNN opinion writer James J. Angel, who firmly believes that Satoshi Nakamoto’s unknown identity makes Bitcoin a “huge danger.” Signal".

"Of course I will not put my BiLife savings are entrusted to a mysterious computer algorithm created by a mysterious anonymous figure, a system that attracts underworld figures. ”

Like many others, Angel dislikes the level of anonymity that Bitcoin transactions offer, claiming that it provides an ideal currency for “tax evaders, drug dealers and terrorists.”

< p>Angel’s view will be less common in 2024, as transactions on Bitcoin are publicly visible and can be verified by Chainalysis and TRM Labs Pending investigations by blockchain forensics firms that work closely with law enforcement to catch criminals

Bitcoin price then: $17

Bitcoin may be “legitimate” after all. —Bloomberg 2013

Bitcoin has been bullish, albeit rarely, as it soared from $12 to $900 in 2013. USD, more financial experts invited to mainstream media are sending a loud and clear message: Bitcoin is "legitimate"

One of those experts is Nick Colas, founder of DataTrek Research. In a 2013 interview with Bloomberg, Nick Colas praised Bitcoin’s security, predictable money supply and cross-border transaction capabilities.

In 2011, Nick Colas. Colas) spoke to Bloomberg about Bitcoin’s potential Source: Bloomberg

In 2014, The Washington Post interviewed Marc Andreessen, founder of software-focused venture capital firm a16z. Optimistically, it is predicted that by 2034, the influence of Bitcoin will be equal to that of the Internet

The price of Bitcoin at that time: 142. USD

Satoshi Nakamoto was like a 'reckless' doctor who overprescribed medications - Financial Times 2014

A former risk examiner at the U.S. Federal Reserve criticized Satoshi Nakamoto for developing a design Improper Bitcoin supply planning that did not take into account the "ebb and flow" of the economic cycle

"Satoshi Nakamoto's writings seem to suggest that it was motivated, at least in part, by the libertarian ideal of letting go. Money creation is not influenced by interfering central bankers.

“But that’s a mistake,” says Mark Williams.

“It ignores the ebb and flow of the economic cycle—the reckless approach equivalent to a doctor giving Penicillin was prescribed to every patient without first checking them for infection, depression, or mania. ”

Mark Williams’s commentary stated that Bitcoin has multiple design flaws. Source: "Financial Times"

Williams praised Bitcoin as aThe technology was invented, but there were fears it would undermine central banks as it showed people "money can be borderless".

Central banks are tasked with controlling the money supply and interest rates while preventing runaway inflation to spur economic growth, but Bitcoin aims to take over those roles and hand them over to algorithms, Williams said .

“The software behind Bitcoin is a remarkable technological achievement, but those who tout this system as the way to save capitalism are simply wrong.”

Bitcoin Price then: $672

Bitcoin is an 'energy guzzler' that could harm Earth's climate - Washington Post reported in 2018

In September 2018, as network hash rates Increased to 50 hashes per second (EH/s) Above, the mainstream media turned to criticizing Bitcoin’s high energy consumption.

The Washington Post called Bitcoin an “energy guzzler” — an indulgence of excess or greed — in an October 2018 report, which cited data showing that Bitcoin The greenhouse gas emissions of the currency are already comparable to those of a medium-sized one.

"The Washington Post" said in the study: "If Bitcoin continues to grow rapidly, it may heat the earth to dangerous levels."

Bitcoin's hash rate has increased since This soared to nearly 800 EH/s, approximately 54.5% of which came from renewable energy sources.

The price of Bitcoin at the time: $6,332

Bitcoin is too cumbersome, too slow, and too expensive to use - "New York Times" report in 2021

In 2020 and 2021, Bitcoin After the coin's user base and transaction volume soared, mainstream media began pointing out network congestion and high fees.

Cornell University professor Eswar Prasad said in a June 2021 commentary article titled "The Brutal Truth about Bitcoin" that Bitcoin has become "too troublesome" , too slow and too expensive to use.”

“It’s like your $10 bill can buy you a beer one day and a nice bottle of wine another.”

“It has no intrinsic value and nothing to back it up ,” Prasad added.

Eswar Prasad’s opinion piece argues that there is a problem with Bitcoin. Source: The New York Times

Prasad further claimed that Bitcoin could “exacerbate inequality” rather than democratize finance, as savvy, financially literate investors would reap the benefits early on. Less well-off people take risks they don’t fully understand.

Bitcoin price at the time: $40,218

Bitcoin ETF approved, but think twice before jumping on the ‘bandwagon’ – CNN 2024 Annual Report

After the approval of Bitcoin ETFs in January, CNN warned investors to think twice before buying Bitcoin ETFs and shared comments from investment advisers who recommended avoiding these products or allocating up to 3% of funds to their investment portfolio.

CNN said those considering jumping on the "bandwagon" should know they would be investing in an asset with "new packaging" but with "many of the same risks" - such as market manipulation and volatility.

The price of Bitcoin at the time: $46,368

The Economist also claimed that three weeks later, when Bitcoin retraced to $42,500, and Grayscale’s Bitcoin Trust ETF The Bitcoin ETF got off to a “bad start” when outflows from (GBTC) were rampant.

These comments come as BlackRock’s iShares Bitcoin Trust has seen inflows exceed 99.8% of U.S. ETFs — far exceeding industry expectations.

Fast forward nearly 10 months, and Bitcoin ETF inflows excluding GBTC were $47 billion, contributing significantly to Bitcoin’s price surge from around $46,200 to over $100,000 now.

“As long as Bitcoin remains a noisy price story, it will never become a currency” - Forbes 2024

Forbes staff writer John Tammany points out that Bitcoin price Continued rise will make it impossible to become a widely used currency as Satoshi Nakamoto originally envisioned.

"Money is simply a reasonably trustworthy store of value that transfers production between buyers, sellers, lenders and borrowers" So why are the "Bitcoin Cheerleaders" going up when they think Bitcoin will rise What about using Bitcoin as a medium of exchange, Tammany mused in a November 17 Forbes article.

"If you agree with the current narrative that Bitcoin's surge is of the early-stage variety, then by definition you are accepting the same fact that Bitcoin will never become a currency."

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Bitcoin price at the time: $89,895

Many industry experts predict that Bitcoin will reach the next $100,000 faster than the first time it reached $100,000.

Will this ultimately change the minds of mainstream media commentators? History suggests probably not.