Slush Pool stands as the oldest crypto mining pool the world has to offer. The pool had opted it appropriate to put in the now-famous headline of Reuters regarding the spectacular 2020 bull run for Bitcoin within a block, doing so on the 2nd of December, 2020.
Bitcoin block number 659678 proudly displays the headline, “Dollar plummets on U.S. stimulus hopes; Bitcoin hits all-time peak.” From now on, this historic title will forever be in the Bitcoin network, and will probably be looked back on as a moment in the crypto industry’s history.
Slush Pool announced the event on Twitter, stating that the miners of the pool all wanted to immortalize the bullish Bitcoin headline coming from such a mainstream media platform. The Bitcoin blockchain will now have that title live on forever within itself.
Our miners asked us to immortalize it.
— Slush Pool | Braiins (OS+) (@slush_pool) December 2, 2020
Historic Correlation Between USD Drop And BTC Rise
The article itself was published by Reuters to highlight the US Dollar starting to weaken just as Bitcoin managed to grace into its all-time high briefly on the 1st of December. Gertrude Chavez-Dreyfuss, the columnist of the piece, made note that the USD’s tanking value ran in tandem with talks within US Congress to issue out a new COVID-19 relief bill.
Through the act of coding it into the Bitcoin blockchain, Slush Pool gave honors to the Genesis Block of Bitcoin, which held a headline published by the Times back in 2009. This title read “Chancellor on brink of second bailout for banks.” and was put there as a reminder of the weaknesses of the current financial system.
On some crypto exchanges throughout the world, Bitcoin had managed to hit a new all-time high, albeit briefly, and surpassed the fabled $19,892 mark, if only for a little bit.
Some Things Never Change
Mainstream media has taken a keen focus and interest within the crypto space ever since its renewed rally, with Bitcoin, the first-ever cryptocurrency, naturally taking a lot of the spotlight. Peter Schiff, one of the biggest crypto naysayers out there and full-blooded gold bug, had opposed all of this coverage the news agencies have over crypto.
The man went as far as to tweet on the 1st of December that the excessive coverage of Bitcoin by CNBC is a “new low” for the ethics of financial journalism.
CNBC’s excessive coverage of #Bitcoin sets a new low in financial journalism ethics. Their constant promotion has legitimized the asset in the eyes of their audience, many of whom will buy and then be left holding the bag when the whales dump what @CNBC helped pump.
— Peter Schiff (@PeterSchiff) December 1, 2020
Regardless of how much certain individuals will attempt to deny it, the crypto space is entering a new stage, with the massive institutional interest this time around making it clear that this time will be different from 2017’s bull run, it’s just not entirely clear how different it will be.