Recently, CCTV's financial channel reported in detail on its economic information broadcast that the price of Bitcoin has soared, setting a new record high, with the price reaching $77,000 at one point, an increase of more than 8%. This news undoubtedly shocked many investors and viewers, because CCTV does not often report on "crazy" financial phenomena such as Bitcoin.
CCTV’s History of Covering Bitcoin
Looking back at CCTV's attention to Bitcoin, we can find that it has a rich history of reporting.
- 2013: On May 3, the Sichuan Lushan earthquake disaster area received donations including Bitcoin, which made Bitcoin enter the public eye with a positive image for the first time. Then, CCTV introduced this emerging virtual currency through (Mysterious Bitcoin) in its program on May 4, and mentioned that it had risen dramatically in three years. One of the holders was named "China's Richest Bitcoiner" by the media.
- December 2013: CCTV's financial channel broadcasts "Crazy Bitcoin", reporting on the sharp fluctuations in Bitcoin prices and the mining boom. However, the People's Bank of China and five other ministries issued a notice shortly after, warning of the risks of Bitcoin, and CCTV's reporting attitude changed accordingly.
- 2014: On January 11, CCTV broadcast (Scary Bitcoin), focusing on the falling price of Bitcoin and potential investment risks, attempting to warn investors.
- 2017: Following the release of the regulatory announcement, on September 18, CCTV Financial Commentary discussed the potential for Bitcoin to be used by criminals for money laundering, highlighting the investment risks.
- 2018: CCTV reported on Bitcoin again, but this time through a real-life application scenario where a foreigner named Jack used Bitcoin to buy coffee in Beijing.
- 2019: The program (Investor Lao Ge said that it only takes one day from heaven to hell in the cryptocurrency circle) talked about the huge risks of Bitcoin investment and the importance of national supervision.
- February 21, 2021: News reporting that investors are optimistic about Bitcoin may have been influenced by the global market's increased recognition of Bitcoin as an investment asset.
- June 23, 2022: Experts discuss the value of Bitcoin, possibly because Bitcoin's market performance has sparked discussions about its long-term value and bubble risks.
- November 2024: Bitcoin prices hit new highs again, and the CCTV report may reflect the market's continued interest and the persistence of Bitcoin as an investment tool.
In general, CCTV's coverage of Bitcoin reflects the development of Bitcoin in China: from initial recognition to enthusiasm, to regulation and risk warnings, and finally to market maturity and discussion of its long-term value. The background of each report is related to Bitcoin's market performance, policy changes, the global economic environment, and the public's deepening understanding of Bitcoin.
