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German TV Calls Bitcoin ‘Digital Gold’

Last Updated March 4, 2021 4:53 PM
Rebecca Campbell
Last Updated March 4, 2021 4:53 PM

Well known publicly owned German TV channel, Das Erste, recently aired a full feature report on the digital currency bitcoin, referring to it as ‘digital gold.’

In the broadcast television show , Das Erste produces a detailed report on bitcoin and how people within Germany are using the currency to pay for everyday items. An interview with Martijn Wismijer, who is well known for having his bitcoin wallet implemented via a chip in his hand, sees him demonstrating its use to the reporter.

In the report, he states:

I’ve had a chip implant since 2014. You can hardly see it, but here is the antenna, next to the chip. If I want to buy, I just keep my hand at the checkout or the machine over there.

He then proceeds to purchase a can of Red Bull using his NFC bitcoin wallet before stating that this technology ‘is the future.’

Digital Gold

During the rest of the report, the reporter provides a brief explanation as to why bitcoin may be digital gold before the scene shifts to the correspondent visiting Marco Streng, CEO of the firm Genesis Mining in Iceland.

During a tour of the company, Streng informs the newsperson that the mining farm uses low-cost electricity and geothermal power plants from the hot springs in the area. Upon entering the facility, the reporter asks how many machines are present. Streng responds by saying:

Alone on this site are over 10,000 graphics cards, which is more than the largest supercomputer in the world.

Streng adds that the mining farm’s electricity costs one million Euros each month; however, he failed to disclose how many bitcoins they were making each day, stating that their competitors would be able to draw a conclusion as to how big they are giving them the advantage.

Mainstream Interest in Bitcoin Continues

Even though bitcoin interest in growing within mainstream media with various news reports on the currency, this could be one of the first aired full featured documentaries from a news channel focusing on it.

This can only be a good thing for the currency as more people recognize the benefits it can provide as an alternative form of payment compared to traditional banking measures.

Even though banks will remain the fact that there is another currency available that doesn’t rely on a bank helps to open up the door for many people around the world. The fact that a major news channel in Germany is providing significant air time on the currency demonstrates the impact bitcoin is having and how far it has come.

Featured image from Shutterstock.