--- title: "Weekly Media Recap #41" date: 2024-05-06 author: BTCP Staff tags: ["Perception Research"] url: https://perception.to/bitcoin-media-research/weekly-media-recap-41 description: "Bitcoin, as covered in the mainstream media." image: https://cms.perception.to/content/images/2024/05/Blue-White--2-.png --- # Weekly Media Recap #41 * * * **EOW closing BTC price:** $64,029 **Date range:** April 29 - May 5, 2024 **In this report:** - Scrambling to Understand Volatility - Ross Ulbricht - More Institutional Engagement * * * ## Weekly Snapshot ![](https://cms.perception.to/content/images/2024/05/Pika-Screenshot-Editor--30-.png) *The amount of mainstream media mentions last week. Source: https://bitcoinperception.com/data/* ![](https://cms.perception.to/content/images/2024/05/Pika-Screenshot-Editor--31-.png) *Sentiment analysis across all outlets. Source: https://bitcoinperception.com/data/* ![](https://cms.perception.to/content/images/2024/05/Pika-Screenshot-Editor--32-.png) *Leaderboard of the most published reporters/contributors last week. Source: https://bitcoinperception.com/data/* * * * ## Main Topics of the Week ### **Scrambling to Understand Volatility** ![](https://cms.perception.to/content/images/2024/05/Screenshot-2024-05-05-at-3.50.48-PM.png) Bitcoin’s price took the mainstream media on a wild ride last week, going from $63,000 on Monday, down to $58,000 on Wednesday, only to close the week at $64,000. Here's how the MSM covered it: On Monday, [Barron's](https://www.barrons.com/articles/bitcoin-ethereum-price-crypto-markets-today-b36be2ec?ref=cms.perception.to) **Jack Denton** predicted it was going to be a rough week, with [CNBC](https://www.cnbc.com/2024/05/02/recent-breakdown-suggests-52000-is-the-next-stop-for-bitcoin-according-to-the-charts.html?ref=cms.perception.to) suggesting $52,000 was the next stop for bitcoin on Wednesday, only for [Bloomberg's](https://www.bloomberg.com/news/articles/2024-05-03/bitcoin-s-wild-price-swings-point-to-the-rising-influence-of-etf-buyers?ref=cms.perception.to) **Maria Paula Mijares Torres** to proclaim that bitcoin’s swing back up point to the rising influence of ETF buyers. It must be hard as a financial reporter to decipher these price fluctuations, I bet. * * * ### **Ross Ulbricht** > Rolling Stone delivers a surprisingly balanced article on Ross Ulbricht and Bitcoin: [https://t.co/JEaxE7xi5s](https://t.co/JEaxE7xi5s?ref=cms.perception.to) [pic.twitter.com/262oMUTVpt](https://t.co/262oMUTVpt?ref=cms.perception.to) > > — Fernando Nikolić 🇦🇷 🟠 (@basedlayer) [May 2, 2024](https://twitter.com/basedlayer/status/1786067676554580449?ref_src=twsrc%5Etfw&ref=cms.perception.to) In a surprising move, [Rolling Stone](https://www.rollingstone.com/culture/culture-commentary/silk-road-ross-ulbricht-undeserved-life-sentence-prison-1235013443/?ref=cms.perception.to) provided a balanced exploration of Ross Ulbricht's story, through reporter **Alex Winter**. With [only one other article](https://www.cnbc.com/2023/05/11/alleged-silk-road-hitman-hit-with-narcotics-money-laundering-charges.html?ref=cms.perception.to) referencing him since January 2023, according to Bitcoin Perception data, such nuanced coverage is rare and significant. > **At the time of writing, we're still processing data from 2018 that's still not available on our dashboard. Looking for Ross Ulbricht articles in this database, we found only 7 other articles.** ![](https://cms.perception.to/content/images/2024/05/Screenshot-2024-05-05-at-10.23.13-AM.png) *Volume of Ross Ulbricht-related coverage in the MSM since 01/01/2023* I wonder if the the Rolling Stone article *could* symbolize a narrative adjustment, since seeing a MSM article providing deeper insight into the personal and philosophical journey of Ross instead of vilifying him *has never happened before*. **I'm working on an op-ed where I go deeper into this, dropping this week.** **Stay tuned for a more in-depth analysis.** * * * ### **More Institutional Engagement** ![](https://cms.perception.to/content/images/2024/05/Screenshot-2024-05-05-at-4.09.29-PM.png) **Bloomberg's Olga Kharif** and **Tom Contillano** [covered](https://www.bloomberg.com/news/articles/2024-04-29/microstrategy-s-saylor-reaps-a-stock-windfall-during-bitcoin-s-record-run?ref=cms.perception.to) how MicroStrategy's strategic investments in bitcoin continue to yield significant returns, reinforcing the growing confidence among the financial corporate media. This sentiment was further supported by the successful debut of Asia's first Bitcoin ETF in Hong Kong, as [highlighted](https://www.reuters.com/markets/currencies/asias-first-spot-bitcoin-ether-etfs-gain-hong-kong-debut-2024-04-30/?ref=cms.perception.to) by **Reuter's Summer Zhen**, yet another landmark event signalling Bitcoin's solid stride into mainstream finance. And while **CNBC's MacKenzie Sigalos** [reported](https://www.cnbc.com/2024/05/02/coinbase-coin-earnings-q1-2024.html?ref=cms.perception.to) on how Coinbase revealed robust earnings, **Forbes** contributor **Javier Bastardo** [covered](https://www.forbes.com/sites/digital-assets/2024/04/30/coinbase-now-offers-cheaper-and-faster-bitcoin-via-lightning-network/?ref=cms.perception.to) the story on how Coinbase integrated the Lightning Network. * * *