Why Once a Bitcoin Skeptic CNBC Anchor Became an Enthusiast

Longtime Bitcoin skeptic Joe Kernen, a former Wall Street stockbroker and now co-anchor of CNBC’s Squawk Box, has finally come around. Speaking on yesterday’s show, Kernen reflected on a recent interview, in which he sang the praises of cryptocurrency. As a result of this, he has become, in his own words, “[I’m] like a god.”

Update: we memed @JoeSquawk into a bulliever.

“I’m a bitcoin bull!”

“I’m like a god!”pic.twitter.com/Q8UWgl8OE5

— Tony Sheng (@tonysheng) June 21, 2019

CNBC’s Previous FUD Narrative

CNBC’s flagship morning show, Squawk Box, has a history of pushing the FUD narrative. However, to their credit, they do at least offer a semblance of balance by way of involving Bitcoin experts in the discussion, including Antony Pompliano of Morgan Creek Digital.

But that’s not to say Squawk Box, and CNBC, have pro-Bitcoin leanings, at least not in the past. Indeed, past interviews have often seen demeaning attacks against Bitcoin. One such incident involved Shark Tank’s Kevin O’Leary, who challenged Pompliano on the merits of Bitcoin. O’Leary said:

“where’s the long-term value? Just the idea that they’re going to cut the number of units in half. It’s such a scam. That’s like totally BS.”

Pompliano did well to keep his cool and address O’Leary’s comments in a coherent manner. O’Leary then went on to say:

“I taught a class in Harvard 18 months ago, and people in that class challenged me, I put $100 into something called Coinbase, which is a wallet thing… I bought it all, I bought all the crypto crap. That $100 is now worth $30. A 70% loss on my crypto crap…and I think that really sucks.”

In response, Pompliano pointed out that the time frame used doesn’t take into account Bitcoin’s performance over a more extended period. To which, Bitcoin has beaten every asset class this decade.

Krugman will only tweet sections of Bitcoin's price history that show it going down… despite the objective fact that it is the single best performing asset on Earth over the past decade (ie since it was born). https://t.co/SOMXhdPgD0

— Erik Voorhees (@ErikVoorhees) February 4, 2018

Kernan Changes His Tune About Bitcoin

And Joe Kernen himself is no stranger to bad mouthing Bitcoin. In a recent discussion with Pompliano, Kernen asked:

“Why is it any different to any tulip mania that we’ve seen in the past. What differentiates it? From that, it’s just acting like a crazy, bubble, tulip…”

The post Why Once a Bitcoin Skeptic CNBC Anchor Became an Enthusiast appeared first on NewsBTC.

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