Choose Bitcoin over Gold, Urges Grayscale

A new television advertisement from Grayscale Investments urges investors to dump gold and invest in bitcoin instead by stating the importance of digital currencies in the future. This year, the crypto investment firm behind the publicly traded Grayscale Bitcoin Trust (GBTC) has been raised by 66 percent, offering $ 1 billion investment vehicles linked to Bitcoin cash, litecoin, Zcash, ethereum, and others.

As the rising tide lifts all the boats, the focus of the TV ad campaign is to start a conversation about bitcoin vs. gold that can influence people to focus on bitcoin. The ad will stream nationally on linear cable and business news networks, plus on video streaming platforms for OTT by ending with a note of “Go digital. Go Grayscale”.

In the past times of economic uncertainty, the gold industry has pushed the market by advertising that this metal is the sole store of value. However, Bitcoin currently can provide similar attributes to gold—it is scarce, fungible, and difficult to counterfeit, and it also has a higher utility and can be accessed through the internet.  Of course, it cannot be used as a means of payment for retailers, but it will be a safe long-term investment method.

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Bitcoin has risen by 113 percent over the past two years, while gold has risen by just 2.5 percent. Believers of Bitcoin like to point out how much the coin has increased over a more extended period of time: 1,130 percent over the past five years. But, the “store of value” argument for Bitcoin in 2018 wasn’t that convincing when it fell by more than 70 percent in value. Bitcoin is expected to prove itself as a store of value, not as a daily currency, and not even as underlying blockchain technology application — as the primary method of taking it as mainstream.

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