Market intelligence company Perception stated that despite cryptocurrencies reaching historic highs, mainstream media coverage of Bitcoin (BTC) and cryptocurrencies in the second quarter was characterized by polarization and insufficient quantity.
According to the report released by the company on Tuesday, 18 mainstream media outlets published a total of 1,116 articles in the second quarter, revealing a "deeply polarized narrative landscape" in digital asset media coverage.
The report did not make direct comparisons with previous quarters but indicated that the overall sentiment towards Bitcoin showed "dramatic divergence among media," with 31% publishing positive articles, 41% providing neutral coverage, and 28% publishing negative articles.
The report claimed that news coverage from "elite financial publications" was extremely scarce, with The Wall Street Journal, owned by News Corp, publishing only 2 articles about Bitcoin in the second quarter, while the Financial Times and The New York Times published 11 articles about Bitcoin during the same period.
These three media outlets accounted for only 2% of all mainstream media coverage of Bitcoin and cryptocurrencies in the second quarter.
Perception identified three different narratives in major media coverage of Bitcoin, largely depending on the extent of what they claimed to be "editorial blind spots of agenda-setting media."
The three narratives are: "enthusiastic adoption" from media like Forbes and CNBC, "willful blindness" from outlets like The Wall Street Journal and the Financial Times, and "persistent skepticism" from traditional media.
Perception noted that high-output financial media such as Forbes, CNBC, and Barron's, owned by News Corp, filled the gaps left by top financial publications with extensive coverage, while traditional news media focused on crime and controversy.
The research also found significant differences in topics related to the crypto industry.
Forbes focused on key themes such as retail adoption, Bitcoin mining, and institutional adoption, while CNBC emphasized banking and finance, market analysis, and investment tools.
Meanwhile, Fortune magazine extensively covered mining, banking, finance, and market analysis, while Fox News highlighted themes of crime, law, and cybersecurity.
The report concluded that these differences resulted in significant "information asymmetry."
The report claimed that investors relying on elite financial media for market intelligence faced "systematic information deficiency" regarding the emerging transformative asset class.
Related: Bitcoin indicators suggest $100,000 is the bottom for BTC: When will it start rising to new highs?
Original: “Perception Report: Bitcoin (BTC) Lacked Mainstream Media Coverage in Q2”
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