HODL On A Minute: CNBC Claims Popular Bitcoin Term Is ‘Acronym’ In New Film
US media network CNBC has already courted controversy prior to airing a documentary dedicated to Bitcoin and cryptocurrency.
Dubious Facts Set The Tone
Just a week after an analyst poked fun at the network, which frequently covers the industry, over its record of correctly predicting Bitcoin’s future price moves, the announcement of ‘Bitcoin: Boom or Bust’ has set a curious tone.
Uploading a trailer of the film, which will air on Monday evening at 6 pm EST, staff claimed that ‘HODL’ was “the most important acronym in the Bitcoin vernacular.” ‘HODL,’ as speakers of that vernacular will know, is not, in fact, an acronym.
CNBC promises to uncover “the elusive and controversial world of bitcoin,” which it describes as “the cryptocurrency that sparked a global frenzy.”
“Is it the future of finance, a bubble or worse?” it asks in further introductory comments.
It’s “HODL” and it’s the most important acronym in the bitcoin vernacular. We explore the concept in “Bitcoin: Boom or Bust,” premiering Monday, August 27 at 6 p.m. EST on CNBC. #BitcoinBoomOrBust #CNBCCrypto https://t.co/vgvshklCB0 pic.twitter.com/rV1N2kLCzy
— CNBC (@CNBC) August 25, 2018
Crypto Kid vs. Wolf Of Wall Street
The documentary will feature news anchor Melissa Lee, the person who has also become well-known as the moderator of the network’s various cryptocurrency discussions.
The pre-release material features interviews with ‘Wolf of Wall Street’ Jordan Belfort — a well-documented Bitcoin skeptic — while putting the case for Bitcoin’s future is the considerably lesser-known ‘Crypto Kid.’
“You buy on the dip and HODL,” he tells Lee, who refers to him as the “poster boy for HODLing.”
The latest mixed blessing publicity stunt for cryptocurrency is by no means the most controversial to appear from CNBC in recent times. That label perhaps belongs to a bizarre phase in late 2017, when its Twitter staff began posting anti-Bitcoin content while highly favoring altcoin Bitcoin Cash. As Bitcoinist reported at the time, rumors soon began swirling that executives from the altcoin had influenced the coverage — which reverted to focusing on Bitcoin several weeks later.
Jacob Canfield, the analyst who published the ‘reverse indicator’ claims last week, could meanwhile also feature on the network after his findings caught executives’ attention.
What do you think about CNBC’s new cryptocurrency documentary? Let us know in the comments below!
Images courtesy of Shutterstock, Twitter.