The digital asset manager, Just in time for the potential bull market for Bitcoin (BTC), Grayscale is bringing back its controversial “Drop Gold” campaign.
Your CEO, Barry Silbert, tweeted Tuesday what The 30-second ad “goes on major networks across the country.”
The commercial begs investors “Leave the herd behind” Throw away gold and add digital assets like bitcoin to your portfolio.
“In a digital world, gold shouldn’t weigh on your wallet”, says the commercial, adding:
“Digital currencies like Bitcoin are the future. They are safe, limitless and, unlike gold, actually useful. “
Grayscale launched its #dropgold campaign in May 2019 when Bitcoin was trading at around $ 5,400. At the time, few institutional investors had spoken publicly in favor of digital assets.
Times have certainly changed.
Since then, institutions like JPMorgan, Deutsche Bank, Citigroup and Guggenheim have expressed different interests in cryptocurrencies.
JPMorgan and Deutsche Bank have apparently determined this Institutional investors are shifting some of their allocations from gold to bitcoin.
In case of Citigroup, Executive Director, Tom Fitzpatrick apparently predicted a BTC price of $ 318,000 over the next 12 months.
Meanwhile, Guggenheim filed an amendment with the Securities and Exchange Commission to allocate $ 500 million to Grayscale’s GBTC.
As reported Cointelegraph Magazine in August 2019, Grayscale’s #dropgold campaign could bring Bitcoin to millions of people. in the same way that the 1948 Merrill Lynch ad in the New York Times introduced the stock to the boomers.
Gold had its worst month since 2016, while Bitcoin posted the highest month-end closing in history. Nowadays, With One bitcoin can buy you 10,539 ounces of gold, most of it in almost three years.