Bitcoin

The Battle of Bitcoin (BTC) Vs. Gold Has Begun #DropGold Campaign

Barry Silbert, Digital Currency Group’s Founder & CEO, has caused quite a stir in the world of cryptocurrency as well as the entire investment arena with his Bitcoin vs. Gold battle tweet. He has launched a #DropGold campaign which urges conventional investors across the world to invest in Bitcoin instead of Gold.

For those who come in late, Digital Currency Group is the parent company of Grayscale, a globally leading firm when it comes to asset management of digital currency. With the newly launched advertisement, Grayscale spells out the message in bold to global investors that it is high time to stop investing in the traditionally popular metal Gold and switch to Bitcoin. The campaign says, ‘Drop Gold. Go Digital. Go Grayscale’, highlighting the fact that as we live in a digital era, the investments should also be digital.

The commercial of the campaign will be seen on digital platforms as well as on television across the United States. In fact, Grayscale in their official blog post has stated that they will continue to advertise the #DropGold campaign aggressively on physical advertising boards as well, over the next few months.

Grayscale seemed excited while unveiling their TV commercial on the micro-blogging site Twitter, quoting it as a must watch!

According to Grayscale, their ad campaign is promoting not only the arrival of Bitcoin as a feasible digital asset but also Grayscale Bitcoin Trust (GBTC) which is the company’s flagship product. The Drop Gold campaign wants investors to reallocate their Gold portfolios and start investing Bitcoin to gain significant benefits with time.

As the commercial directly pitches BTC against gold, it is encouraging investors to compare both the assets and their respective ROIs. Grayscale also brought into light a number of advantages of Bitcoin such as speed, efficiency, and security. It must be noted that ever since its emergence, Bitcoin has been regarded as the digital gold and this campaign definitely adds a certain weight to it. In fact, the commercial creatively leaves investors with a thoughtful question that why do they still have gold in their portfolio.

Grayscale, one of the biggest crypto investment firms, also presented a hypothetical investment scenario which implied that shifting a part of the gold portfolio to Bitcoin could actually enhance the performance of the investors’ portfolio. The simulation stated that dropping about 15% of the gold allocation to replace the same with Bitcoin produced an annual return of more than 15% higher when compared to out-and-out gold investment.

The tweet, however, has garnered a mixed response on Twitter where some people are seen congratulating Grayscale while others are terming the comparison as foolish.

While Silbert and team Grayscale have successfully brought all the limelight to Bitcoin for investment purpose, it remains to be seen whether it convinces the traditional investors to actually move from the sparkling metal to the crypto.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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