USA Today Explains Mining For Gold, Bitcoin and Candy Crush Currency

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Last Updated on 28 August 2020 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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The mainstream adoption of Bitcoin as a known item, good or definition for digital currency for Americans became even clearer today. Whereas we already mentioned two weeks ago that both Tesla and Bitcoin were the most popular investments for Americans during the first half of 2020, it now seems the mainstream media is also jumping on the bandwagon.

USA Today, the country’s largest newspaper, used the best known cryptocurrency as an example to explain the different investing options that Americans have now that the dollar is falling and Warren Buffett is touting gold.

Although the example may not be the most likely one, the newspaper let the former chief investment strategist at Merrill Lynch use both Candy Crush and Bitcoin to explain the term mining for money:

Richard Bernstein:

What the makers of Candy Crush weren’t smart enough to realize is you should be able to use those (virtual) coins elsewhere to buy stuff. But they kept it within the game. So what do you do with bitcoin? Well, you have to have these computers to ‘mine‘ them (electronically), but what are they doing? They are effectively playing a giant mathematical game, and if you solve the game, you get bitcoins.

Advertentie.

Omaha Oracle

Warren Buffett, the legendary investor known by his nickname the Omaha Oracle, made alternative investing strategies popular and indirectly caused USA Today’s coverage when he announced earlier this month that his company, Berkshire Hathaway, was now investing in gold.

Buffett bought a large stake in a gold miner for some $564 million and thus signaled to the market that it is time to ditch the banks and invest in safe havens.

Gold soared to $2,000 since the beginning of August, leaving many newspapers around the world to speak of a renewed gold rush, though many forget that the yellow metal’s performance bleaks in comparison to Bitcoin, which is up more than 60% in 2020.

At the time of writing, the Bitcoin price is trading at around $11,400.

>> Discover where to buy BTC.

For those interested, we did not immediately find a price for Candy Crush’s virtual currency.