In the second quarter of 2025, Bitcoin (BTC) achieved a historic milestone, recording an all-time high of over $111,900. Additionally, the cryptocurrency recorded its highest quarterly return since 2020.
However, according to a new report by market information company Bitcoin Perception, mainstream media coverage remains surprisingly rare and fragmented.
'Deliberate Ignorance' and 'Skepticism'... Traditional Media's Bitcoin Coverage
Perception noted in its latest report that 1,116 articles about Bitcoin were published in 18 major media outlets in the second quarter of 2025. Among these, 31% had a positive tone, 41% a neutral tone, and 28% a negative tone.
"The mainstream media coverage of Bitcoin in Q2 2025 revealed a deeply divided narrative environment." – Report
Furthermore, the report identified three distinct editorial narratives shaping Bitcoin coverage: 'intentional neglect', 'persistent skepticism', and 'passionate adoption'. The first narrative is exemplified by limited coverage in elite financial publications.
Perception emphasized that the Wall Street Journal published only 2 articles about Bitcoin. Meanwhile, Financial Times and New York Times published 11 articles each.
"While FT and WSJ breathlessly report on every point movement in Italian bond yields, they decided to report less on the asset of the century than on European Central Bank meeting minutes." – Perception
Perception explains that this difference in coverage creates a "massive information asymmetry" for investors. Those relying on these media outlets are missing crucial information about Bitcoin.
Consequently, investors relying on media outlets that acknowledge Bitcoin's significance and performance have an informational advantage.
"This editorial neglect by agenda-setting media reveals more about their institutional capture than Bitcoin's importance... Bitcoin doesn't need WSJ any more than Netflix needed Blockbuster's approval... The question is not whether Bitcoin is legitimate enough for the Wall Street Journal, but whether the Wall Street Journal is still relevant." – Perception
Interestingly, while the Wall Street Journal published the fewest articles about Bitcoin, its sister publication Barron's published 65 articles. Although this publication was rated the third most negative, the higher number of articles indicates they did not completely ignore Bitcoin.
"Barron's paradox reveals WSJ's editorial dysfunction. Is WSJ choosing institutional dinner party approval over market reality?" – Report
According to Perception's analysis, of the 65 articles, 48% were neutral, 25% positive, and 27% negative. All articles about institutional adoption and banking and finance had a negative tone, with only 35.7% of articles about investment vehicles sharing the same tone.
Besides Barron's, other traditional media outlets like Independent and Fox News also contributed to the 'persistent skepticism' narrative. They all focused on crime and controversy.
Independent published 45 articles, with 42% being negative. Fox News published 32 articles, with 38% being negative.
"Their high negative coverage at least acknowledges Bitcoin's news value—a step ahead of elite media pretending it doesn't exist." – Perception
Nevertheless, Bitcoin still received much positive coverage. Forbes, CNBC, and Fortune leaned towards 'passionate adoption', highlighting institutional and retail adoption trends, Bitcoin mining, and market analysis.
Forbes published 194 articles, with 43% being positive. CNBC was second with 141 articles, with 42% being positive. Finally, 25% of Fortune's 117 articles favored a similar approach.
"Forbes has essentially replaced the Wall Street Journal as the financial publication of the digital asset economy. While WSJ obsesses over 20th-century asset classes, Forbes actually covers what's moving markets and reshaping finance." – Perception
Notably, Forbes and CNBC also provided strong positive coverage of Bitcoin in the first quarter of 2025. Meanwhile, Barron's coverage was relatively more positive. However, the tone changed in the second quarter.
