By Hassan Mehmood (Saudi Arabia)
World top crypto asset fund manager Grayscale will run an ad campaign about cryptocurrency on leading business channels, including FOX, FOX Business, CNBC, and MSNBC.
Barry Silbert, the CEO of Digital Currency Group, the parent company of fund manager Grayscale, recently said in a tweet that “Grayscale’s national ad campaign kicks off next week with a TV ad on CNBC, MSNBC, FOX, and FOX Business.”
The purpose of the ad project is to introduce the potential of cryptocurrency to those people who are not aware of it. It is an attempt to bring digital currency on mainstream media. All channels are business and finance-related with a total reach of more than 6.5 million viewers.
Is it a Right Time for advertising Cryptocurrency?
There are many reasons why they are going to start an ad campaign in the middle of economic uncertainty. Coronavirus pandemic has created a disturbance in the world economic activity. Small-level businesses are even more affected by the COVID-19. The US economy is fluctuating because the Fed has not a perfect plan and just printing more and more cash. Due to increasing cash printing, chances of high inflation are expected. Fear of economic burden has caused people to think about other assets, which are anti-inflation and have limited supply. These assets include precious metals and Bitcoin. Bitcoin is attractive because its supply is only 21 million, and no one can mint additional Bitcoin.
Also read:Due to the advertisement of cryptocurrency, there are more chances that people who are in search of safe-haven assets will turn to Bitcoin.
Some analysts claim that the recent Twitter attack is designed to advertise Bitcoin instead of looting people. People, whose accounts were hacked, had followers in millions, and it was the best way to introduce Bitcoin on a mass level.
However, there are popular personalities who think that Bitcoin will never replace mainstream money. Peter Schiff said at the start of the year,” A lot of people are making fun of me for confusing my pin with my password. I made a mistake and it cost me my #Bitcoin. But confusing Bitcoin for money is a much larger mistake and those who are making it will lose far more than I did!”
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