#DropGold Grayscale TV Ad Campaign Urges Public To Buy Bitcoin Versus Gold, BTC Up 40% In 2019
#DropGold Campaign Supported By Grayscale, Urging Public To Pick Up Bitcoin Instead
Proponents of Bitcoin have a driving force behind bringing awareness to the cryptocurrency industry. However, a new campaign with the hashtag #DropGold has been circulating on social media, launched by Grayscale. The purpose of the campaign is to encourage investors in the United States to let go of their gold and choose Bitcoin instead, as reported by The Block.
There are certain limitations to using gold as a hedge and utilizing Bitcoin as a digital store-of-value is a much more secure and rare option for investors, which Grayscale Bitcoin Trust can be used as a key avenue. The main website being used, DropGold.com, was officially launched on Wednesday, and the firm plans to publish video advertisements for their campaign on social media, Hulu, and other platforms.
The managing director for Grayscale Investments, Michael Sonnenshein, spoke with The Block about the creation of the campaign, crediting CEO Barry Silbert of Digital Currency Group (DCG) with the idea. Sonnenshein added that they are aiming for investors to learn about how ridiculous the use of gold is as a store of value, and that being provocative was the point of the widespread campaign in the first place. Based on their research with economic simulations, even a redistribution of 5% of a gold portfolio into a Bitcoin investment would result in a 5% increase in the annual return, rather than keeping only gold.
In the commercial, investors have a comedic take on gold, asking if the watchers are “living in the past” by making investments in this precious metal. The advertisement also states that Bitcoin and other cryptocurrencies “have utility,” while gold does not. Grayscale sees this advertisement as something that is less about their own company, and more about awareness, like the commercial that arose with the “Got Milk” tagline.
The #DropGold campaign only recently started on May 1st, and the advertisement can be viewed here: http://fortune.com/2019/05/01/drop-gold-bitcoin/
To learn more about the campaign, visit https://dropgold.com/.