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New York Based Grayscale Launches “Drop Gold”- a Pro-Bitcoin Ad

New York based Grayscale

Grayscale Investments is a digital asset managing company based in New York. According to reports, the firm introduces its advertising initiative for pro-bitcoin. As per press release on 1st of May, the advertisement will go by the name “Drop Gold.”

Precisely, the campaign of Drop Gold is based upon the evolution of Bitcoin. It has become an alternative for investment in Gold. Particularly, the ad campaign promotes investment of bitcoin within BIT of Grayscale. As per matter of fact, Grayscale trades publically Bitcoin Investment Trust or BIT is trade. It started in the year 2015 and traded under GBTC ticker.

The pro-bitcoin advertisement of Grayscale, Drop Gold, includes commercial arguments which are provocative. According to the campaign, gold investors are still living in olden days. It showcases gold like an asset which is old in fashion. But, it carries the weight of the portfolio of the investor. Then, the commercial contradicts it to Bitcoin. The advertisement shows Bitcoin as an updated asset of the digital world. And also, the asset is better when it comes to speed, efficiency, and accuracy.

Founder and CEO of DCG outlines a general shift in gold investment approach

On the other hand, Digital Currency Group’ founder & CEO, Barry Silbert outlines some aspects. As per Silbert, in general, there is a shift in the gold investment approach. And, such investment gets reallocated to Bitcoin. According to him, the baby boomers in the crypto market started to move their wealth towards newbie investors.

Further, Silber explains things on the matter in the press release. He says that the gold industry is doing well in marketing for overpriced metals. He then supports Bitcoin by saying that it has superior physical properties. According to him, Bitcoin has superior market utility as well. He believes that Bitcoin will become the source for storage of vale in the digital age.

However, Blockchain Capital publishes a survey. According to the American firm, about 11 percent of the total population in America own Bitcoin.

Grayscale launches the ad across multiple platforms

As per the press release of Grayscale, the advertisement of Drop Gold will run on different platforms. It will include social media; broadcast TV as well as digital platforms. The targets of the initiative are major cities of the US.

In addition to better attributes, the advertisement shows feature a branded website. The website then offers general information to educate gold investors regarding Bitcoin.

Recently, the largest cryptocurrency in the world, Bitcoin, started a bull run again. As per matter of fact, Bitcoin rose to about 20,000 dollars towards the end of 2017. This value is the firm’s all-time high. However, towards early 2018, the largest cryptocurrency settled around 5,300 dollars. Similarly, towards the beginning of April this year, a similar surge in its price happened. It crossed the value of 5000 dollars again to reach around 6,000 dollars.

Since then, Bitcoin is again in the news. Now, many speculate it to break the level of 50K dollars value towards mid-2020. However, others also think the cryptocurrency might disappear in 10 years.

Also Read: Europeans Think Bitcoin to Die in Next 10 Years but Crypto to Continue

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