A Saturday information broadcast on X and YouTube by BitcoinNews.com claimed that the fifth largest financial system on the planet has adopted bitcoin. It had not.
The livestream headline and far of its commentary dangled the inference that California had someway simply ‘adopted’ bitcoin as different governments like El Salvador had ‘adopted’ bitcoin. Many have been fooled.
The published misleadingly recommended that an obscure announcement by the Metropolis of Santa Monica meant that your entire State of California – which is the world’s fifth largest financial system by some metrics – had ‘adopted’ bitcoin.
Learn extra: Faux information once more! This time it’s Kamala Harris and ‘unrealized crypto gains’
No, it didn’t. California didn’t change any coverage concerning bitcoin over the weekend. What really occurred is that on July 10, one metropolis in California opened an workplace in partnership with a non-profit basis. That workplace known as the Santa Monica Bitcoin Workplace. Town allotted $0 to its funds.
That’s all that occurred. A metropolis opened an workplace six weeks in the past and allotted it a funds of $0.
On this so-called ‘news,’ BitcoinNews.com simulcasted a headline Saturday claiming that the fifth largest financial system on the planet had adopted bitcoin.
Please, please, will anybody else undertake bitcoin?
For years, Bitcoiners have been determined for information of one other authorities in addition to El Salvador adopting bitcoin. Regardless of their honest efforts and full organizations devoted to nation-state bitcoin adoption, no different nation has legalized bitcoin as authorized tender.
Briefly, the Central African Republic appeared prefer it could be the second nation to undertake bitcoin, but it surely then backtracked. Anyway, its preliminary announcement was extra about its personal Preliminary Coin Providing (ICO), Sango, which flopped.
Typically talking, pretend information is proliferating extra quickly in current months on Elon Musk’s X as decreased employees, low-cost AI instruments, and shifting social norms make posting partially-true headlines extra widespread.
Certainly, this month alone, Protos has already coated pretend coverage information in regards to the Democratic occasion, CZ’s pretend launch from Bureau of Prisons custody, a pretend unrealized capital beneficial properties tax, the pretend nomination of Gary Gensler for US Treasury Secretary, and a conspiracy concept that Solana is a CIA asset.
As ever, Protos will proceed to trace false information tales impacting crypto audiences.
Received a tip? Ship us an e-mail or ProtonMail. For extra knowledgeable information, comply with us on X, Instagram, Bluesky, and Google Information, or subscribe to our YouTube channel.