Cryptocurrency's Communications Conundrum

A recent NPR headline, 'Why there's so much excitement around a cryptocurrency called stablecoin,' highlights the media's ongoing struggle to understand and accurately report on the crypto space. Despite stablecoins being a decade-old innovation with nearly $27 trillion in annual transactions, surpassing Visa and Mastercard combined, the media continues to treat crypto as a novelty. This disconnect between crypto's market performance and media coverage stems from a deeper communications issue, leaving the public uninformed about the transformative advancements in the $4 trillion industry. With Bitcoin up over 110% year-to-date, U.S.-listed Bitcoin ETFs attracting over $50 billion in net inflows, and global crypto adoption surpassing 600 million users, the numbers speak for themselves. However, mainstream media narratives have failed to keep pace, with top financial outlets publishing limited articles on Bitcoin and crypto. This lack of coverage has significant consequences, including perpetuating misconceptions about crypto and influencing legislation and public opinion. Rather than relying on spectacle and borrowed legitimacy, the crypto industry should focus on telling its own story, grounded in facts and market signals. By doing so, it can establish its credibility and legitimacy, rather than letting others define its narrative.