Grayscale To Bring Back the “Drop Gold” TV Ad
Grayscale, the regulated firm facilitating institutional exposure to a variety of cryptocurrencies including Bitcoin Cash and Litecoin, is once again reeling out the “Drop Gold” Ad on major networks across the United States. The Ad roots for digital gold, urging investors to shun gold. Instead, they should double down on BTC for its unique characteristics including acting as a store of value and digital nature.
That Bitcoin may replace gold in the future has been floated by analysts and investors. Their argument being gold’s clunky nature and dismal performance, unlike cryptocurrencies. They add that Bitcoin is a better alternative with numbers for proof. The “Drop Gold” ad is timely for Grayscale Investments--a cryptocurrency asset management firm founded in 2013 under the Digital Currency Group. Bitcoin and most of their supported altcoins are posting decent results. Their calls could yield dividends, convincing more investors to settle on BTC or any of the altcoins on offer therefore pumping prices.
Impact on Altcoin Prices:
Bullish. Bitcoin and some altcoins have added double digits in the last month of trading. As Bitcoin trades around its all-time high, the advert is massive for the crypto scene since would-be investors are also curious about Bitcoin and may want to explore, settling on any of the firm’s listed altcoin.
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