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Backlash Builds After CNBC’s Becky Quick Ridicules ‘Lottery Ticket’ Bitcoin
Nobody has been harder on bitcoin than the mainstream financial media, particularly during the crypto winter. Now that the market is showing signs of strength, bitcoin is back on their radar, but some continue to miss the point. Among them, CNBC’s Becky Quick probably got bitcoin the most wrong.
CNBC’s Becky Quick Ridicules Bitcoin
Becky Quick’s disdain of bitcoin began to seep through in a television interview with Fundstrat’s Tom Lee on Squawk Box. At first, the CNBC anchor’s concerns were reasonable enough surrounding how Lee came about a fair value price for bitcoin. Tensions quickly escalated, however, at least for the audience, when Quick called his recommendation for investors to make a 1%-2% allocation to bitcoin “crazy.”
She continued her tirade on Twitter after follower Eric Weiss, the founder of hedge fund Blockchain Investment Group, called her out on the “crazy” remark, in response to which Quick quipped,
“Are we talking bitcoin? Or lottery tickets?
Are we talking Bitcoin? Or lottery tickets? https://t.co/3F7cOvIbpq
— Becky Quick (@BeckyQuick) April 5, 2019
Not a Get-Rich Scheme
To be fair, Quick has been entrenched in the mainstream financial media for pretty much her entire career. Prior to joining CNBC, she worked for The Wall Street Journal. While not an excuse considering the blockchain space is comprised of plenty of Wall Street veterans, it does explain some of it.
