Grayscale Investments, a New York-based digital currency investing services company, has introduced its Pro-Bitcoin advertising initiative, named Drop Gold. The Drop Gold campaign is based on the emergence of Bitcoin (BTC) as an alternative to gold investments. Particularly, the advertising campaign designed to foster Bitcoin investment within Grayscale’s publicly traded Bitcoin Investment Trust (BIT), which started trading under the ticker GBTC in the year 2015.
Grayscale’s Pro-Bitcoin advertisement comprises of a provocative commercial arguing that gold investors are living in the past, where the commercial presents gold as a traditional asset that afflicts investors’ portfolio and contrasts it with Bitcoin, the up-to-date digital world asset that is reportedly better in terms of pace, security, and efficiency. The Pro-Bitcoin advertisement campaign further involves a branded website offering general information to edify investors regarding Bitcoin. As per the announcement, Drop Gold ads are set to be run on social media and digital platforms, in addition to on broadcast TV, targeting key demographics across major cities in the US.
Digital Currency Group and its subsidiary Grayscale Investments Founder and CEO Barry Silbert pointed out that there is a generational shift in the investment approach. Sibert further noted that investments in gold will be reallocated to bitcoin as baby boomers start moving their wealth to a younger generation of investors. In a statement, he stated that “The gold industry has done a fantastic job of marketing an overpriced metal, but Bitcoin has superior physical properties and market utility. I believe that Bitcoin will become the store-of-value for our digital age.”