CNBC’s @andrewrsor just told a representative of the Grayscale Bitcoin Trust, CNBC’s biggest advertiser, that he’d love to hear the bearish case for #Bitcoin. No @CNBC viewer will ever hear the bearish case for Bitcoin on CNBC as the network sold out its audience for ad dollars.
The benefit isn’t limited to audience and distribution either but network as well.
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.