Grayscale Rolls Out Amazing #DropGold Bitcoin Advertising Campaign
The public is likely to see a lot more in terms of advertisements related to Bitcoin (BTC) on social media and on television, thanks to an initiative spearheaded by crypto asset manager Grayscale Investments.
Watch the #DropGold video!
In a press release published on Wednesday, May 1, the New York-based firm announced it would be introducing pro-bitcoin ads via the tagline “Drop Gold.”
The ad campaign draws its Drop Gold tag from the fact that bitcoin has over the years emerged as an alternative to conventional gold investments.
Even then, Grayscale’s advertisements are designed to publicize and promote bitcoin as an investment vehicle as offered by the company. This relates to the Bitcoin Investment Trust (BIT), a publicly traded offering provided as GBTC that Grayscale launched in 2015.
The ad takes a dig at gold as an investment vehicle, with the clearly pro-bitcoin message provokingly referring to gold investors as a group that has not adapted to modern investments, basically, that they live in the past.
The commercial thus presents a picture where gold is nothing but an old-fashioned asset contrasted with the more up-to-date bitcoin.
The advert says gold only weighs down the portfolios of those invested in it, as opposed to the top crypto that comes with better traits as an asset- high transaction speed, security and increased efficiency.
Also included as part of the aggressive bitcoin campaign is a branded website from where the investor community can source educational information about bitcoin.
The press statement indicated that the Drop Gold ads will appear on social media as well as other digital media platforms. The campaign will also be run on broadcast TV, with the target being to reach key demographics in the U.S.
According to Barry Silbert, the CEO of Grayscale Investments, the investment approach is facing a generational. The Digital Currency Group founder noted that investments in gold are set to be moved into bitcoin when baby boomers begin to move wealth into the hands of younger generations.
In his view, the gold industry has over the years played its role very well and succeeded in marketing gold- an “overpriced metal”- as an investment tool. However, he contends that Bitcoin is going to take over as the world’s store of value as it boasts “superior physical properties” and has market utility.
Various surveys have shown that an increasing number of U.S. citizens are aware of bitcoin and that among prospective investors; the biggest percentages are among the millennials. More recently, a new study by U.S.-based venture capital Blockchain Capital revealed that nearly 11 percent of Americans own bitcoin.
It’s not easy to tell the impact of such a commercial as the one set up by Grayscale. However, with interest in bitcoin exploding, greater adoption could follow.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.