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Grayscale bring back “drop gold“ ad in an attempt to bring more people to bitcoin

Grayscale bring back “drop gold“ ad in an attempt to bring more people to bitcoin

Quick Take

1 minute read

  • The controversial “drop gold“ campaign from the Grayscale digital asset manager is getting ready to bring back the touchy topic as bitcoin gets ready to potentially reach its all-time high.
  • Barry Silbert, the chief executive officer of the company put a tweet out earlier today saying that the advertisements will be running on all major networks across the United States.

The controversial “drop gold“ campaign from the Grayscale digital asset manager is getting ready to bring back the touchy topic as bitcoin gets ready to potentially reach its all-time high.

Barry Silbert, the chief executive officer of the company put a tweet out earlier today saying that the advertisements will be running on all major networks across the United States.

Essentially, this advertisement encourages people to drop the precious metal of gold and instead opt-in for digital assets such as bitcoin by adding them to their portfolio.

The commercial states:

“In a digital world, gold shouldn’t weigh down your portfolio… Digital currencies like Bitcoin are the future. They’re secure, borderless and, unlike gold, they actually have utility.”

The last time that this advertisement was aired was in around May last year when bitcoin was at just over $5000 in its value. Compared to then, the way the market is now is very different. Many more institutional investors have got involved with the industry following the coronavirus pandemic and the economic crisis that has ensued.

JP Morgan Chase is one prominent institution that has got involved with the industry on a significant level. They have even shifted some of their allocations away from gold and into bitcoin in an attempt to seek more profit.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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