- Grayscale to use “drop gold” ad to boost crypto adoption.
- The ad campaign aims to influence investors to drop gold for Bitcoin.
The Chief Executive Officer of Grayscale,Barry Silbert, announces in a tweet that his company would be bringing back a Bitcoin ad that has caused some controversies. The ad campaign is popularly known as “drop gold.”
The company decided to bring back this ad in order to build on the momentum that Bitcoin price has gotten recently. Bitcoin price currently has the potential of getting to its all time high.
According to the CEO, the ad would be running on all major networks in the United States. It ‘s expected that the ad campaign would be able to boost crypt adoption in the country.
The ad basically asks investors to choose Bitcoin investments over investments in gold. According to the ad copy, the word is going digital and as such, investors should be putting their money in digital currencies like Bitcoin.
The ad copy went on to state some features of Bitcoin. According to the ad, Bitcoin is more secure, can be used to carry out international transactions and it has utility.
This ad was last aired when Bitcoin was worth just $5000. Since then, the value of the crypto currency has tripled and there has been improvements in crypto adoption.
Institutions leading crypto adoption
Unlike before, different institutions have begun to embrace cryptocurrencies as a means of storing value and wealth.
Microstrategy recently bought over 2000 BTC to continue in its stride of crypto adoption. The tech company CEO said that the company would not be ending its investments in Bitcoin anytime soon.
Other companies like Square have also embraced cryptocurrency. 1% of Square’s total asset is in Bitcoin. The company has also noted that the digital currency is the future of financial transactions in the world.
PayPal’s entrance into the field has been hailed by many crypto enthusiasts because it has the potential of leading to more crypto adoption by private individuals.