Digital asset management company Grayscale Investments has launched a new ad campaign today on several U.S. national television networks including CNBC, MSN, and FOX, to boost investors’ awareness of digital currencies, but it didn’t give any credit to Bitcoin.
The video ad which lasted for 30 seconds, displayed how money has evolved over the years, which has taken a variety of forms, such as copper, shells, metals, and fiat.
According to Grayscale, since the advent of fiat, money has lost its value, as governments globally have continued to print an unlimited amount of this form of currency.
“[…] Then people proceeded to wave goodbye to [the] value, printing unlimited amounts of money. […] That’s why I’m for digital currencies,” the voiceover said.
Controversy Sparkled
Launched in 2013, Grayscale offers institutional investors the needed exposure to digital assets via its Bitcoin and Ethereum Trust.
The firm has recorded groundbreaking financial records, including raising $500 million in Q1 2020, thus indicating that institutional interest in cryptocurrencies has spiked over the years.
Despite Grayscale’s operation majorly focused on Bitcoin as several milestones have been published by the firm involving the asset class, the commercial debut failed to mention Bitcoin or any cryptocurrency in particular for that matter. It just went with the generic name “digital currencies.” And this has sparked controversy on crypto Twitter.
Some crypto enthusiasts on the microblogging platform condemned the nature of the ad, as they believe the video was too complex for those who are not familiar with the concept of cryptocurrency. Others think it is good but slightly a miss with no public ticker.
This will be confusing to anybody not already onboarded into crypto. Already showed it to my dad. Too loud, too fast paced, too vague of a call to action
— Henning (@at_henning) August 10, 2020
Another user, @thebitcoinrabbi shared another video which he believes Grayscale should have used. The video strictly focused on promoting Bitcoin while comparing it with the traditional financial system.
Here’s the ad that @Grayscale should have run.@barrysilbert if you want some ideas, my DMs are open! pic.twitter.com/f9zArCr2JP
— The Bitcoin Rabbi (@thebitcoinrabbi) August 10, 2020
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