Grayscale’s new advert indicates the shift in sentiment around digital currencies, suggesting that they believe mainstream investors might be ready to contemplate buying once again.
Grayscale Investments, a leading digital currency asset manager, is launching a major new campaign urging the public to ‘drop gold’ from their portfolios and go digital instead.
The 39-second advert, which will go out on social media and other online channels, shows investors weighed down with gold bars and coins, until they drop them and start running. Meanwhile a voiceover states that gold is the past, while digital currencies are the future – listing some of their advantages. ‘Cryptocurrencies like bitcoin are the future. They’re secure, borderless, and unlike gold, they actually have utility.’ (It’s not just for the no-coiner public, though – there’s a nod to the crypto community as a lambo skids around a corner, weighed down by the bag of gold it is towing.’
The advert shows how much sentiment has changed in the crypto world, and how quickly it can change for the mainstream public under the right conditions. Only six weeks ago there was real concern throughout the crypto sphere about the prospects for bitcoin over the coming months – even if hodlers were confident about the long-term. That changed with the single co-ordinated buy of around $100 million at the start of April, and the shift in mood has quickly filtered through to the media and the wider public.
Talk is once again bullish about bitcoin and cryptocurrencies, and large media channels are taking interest. Grayscale’s campaign is an example of the company putting their money where their mouth is, investing heavily in advertising designed to attract newcomers to their products. And they have figured out their positioning, too: bitcoin is the new gold. It’s easy to understand and it’s a smart pitch, especially to millennials.
Crypto is, once again, sexy. It can only be a matter of time before that is reflected in another bout of speculative mania.
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