Grayscale launches nationwide ads to convince people to invest in digital currency

Crypto asset management company Grayscale began placing advertisements in multiple media outlets across the United States this week to persuade the public to invest in digital currencies such as Bitcoin and Ethereum.

In the 30-second ad, Grayscale shows the evolution of money over thousands of years, from shells to metals to today’s fiat currencies, telling viewers that now is “the age of digital currency.”

Notably, the ad does not mention Bitcoin at all, as Grayscale did in its previous “DropGold” series of ads. A spokesperson for the company told The Block that the new ad “focuses on digital currencies and the Grayscale brand, rather than just promoting a single digital currency like Bitcoin.”

Grayscale founder and CEO Barry Silbert said the ad will first air on CNBC, followed by MSNBC, FOX and FOX Business. He said on Friday that the campaign is aimed at driving more awareness of crypto assets and promoting mainstream adoption of Bitcoin and Ethereum.

Grayscale, which offers crypto investment products including Bitcoin and Ethereum trusts that help investors gain exposure to assets without buying or storing them directly, reported record inflows last month, bringing in $905.8 million in the second quarter, nearly double the amount it received in the first quarter of this year.

Peter Schiff, a staunch opponent of Bitcoin, believes that the ad is designed to mislead investors into buying Bitcoin again. He wrote on Twitter, "If you bought Bitcoin, you would not only miss out on the gains of gold, but also lose 16% because Bitcoin fell."

Silbert responded by saying, “Compare the performance of Bitcoin to gold over almost any time frame, and in all cases, Bitcoin outperforms gold.”

Image source: pixabay

AuthorLiang Che

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