Recently, CCTV's Finance Channel detailed the surge in Bitcoin prices, reaching a historic high of $77,000, with an increase of over 8%. This news undoubtedly shocked many investors and viewers, as CCTV does not often report on such 'crazy' financial phenomena like Bitcoin.
The history of CCTV's reporting on Bitcoin
Tracing CCTV's attention to Bitcoin reveals a rich history of reporting.
- 2013: On May 3, the Sichuan Lushan earthquake disaster area received donations including Bitcoin, which allowed Bitcoin to enter the public eye for the first time with a positive image. Shortly after, CCTV introduced this emerging virtual currency through a program called (The Mysterious Bitcoin) on May 4, mentioning its astonishing increase in value over three years. One holder was dubbed by the media as 'China's Bitcoin Billionaire.'
- December 2013: CCTV's Finance Channel aired (Crazy Bitcoin), reporting on the drastic fluctuations in Bitcoin prices and the mining craze. However, shortly after, a notification from the People's Bank of China and other five ministries warned about the risks of Bitcoin, leading to a shift in CCTV's reporting attitude.
- 2014: On January 11, CCTV aired (Terrifying Bitcoin), focusing on the drop in Bitcoin prices and potential investment risks, attempting to warn investors.
- 2017: With the release of regulatory announcements, on September 18, CCTV Finance commentary discussed the possibility of Bitcoin being used by criminals for money laundering, emphasizing investment risks.
- 2018: CCTV reported on Bitcoin again, but this time through a practical application scenario, where a foreigner named Jack bought coffee with Bitcoin in Beijing.
- 2019: The program (Investor Old Ge said that in the cryptocurrency world, one day is like going from heaven to hell) discussed the huge risks of Bitcoin investment and the importance of national regulation.
- February 21, 2021: Reported news about investors' optimism towards Bitcoin, likely influenced by the global market's increasing recognition of Bitcoin as an investment asset.
- June 23, 2022: Experts discussed the value of Bitcoin, possibly due to Bitcoin's market performance triggering discussions about its long-term value and bubble risks.
- November 2024: Bitcoin prices reached a new high again, and CCTV's report may reflect the ongoing interest in the market and the sustainability of Bitcoin as an investment tool.
Overall, CCTV's reporting on Bitcoin reflects the development history of Bitcoin in China: from initial recognition to frenzy, then to regulation and risk warning, and finally to market maturity and discussions about its long-term value. The background of each report is related to Bitcoin's market performance, policy changes, global economic environment, and the public's deepening understanding of Bitcoin.
