The well-timed advertising efforts of major cryptocurrency firms has coincided with many investors desperate for new opportunities. The unprecedented economic travesty of the coronavirus has caused many to re-evaluate how they look at assets. Many central banks throughout the world are engaging plans to bolster economic activity. Therefore, people all over the globe are seeking new ways to fight back against inflation.
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The Analysts Weigh In On Cryptocurrency And Its Recent Media Success
There are certain groups who postulate that the current monetary policy from governments is behind cryptocurrency’s popularity growth. They include Anthony Pompliano, a member of Morgan Creek Digital, and Mati Greenspan. One of the most influential data firms globally, MicroStrategy, put $250 million into Bitcoin, BTC, just last week. Thus cementing their belief that BTC is a better store of economic value than other forms of currency.
Grayscale Investments, a firm specializing in the underwriting of digital currencies, has seen immense growth in its asset base. This is in large part, due to its continued strategic use of advertisements in traditional media avenues. The return on these ads has prompted belief that there is a widespread shift in opinion towards crypto tokens. The Grayscale Investments commercial can be seen on CNBC, Fox, and Fox Business, amongst other major networks.
Not Just On TV, Even The Newspapers Get A Splash Of Crypto Fever
Galaxy Digital, had a full-page advertisement placed within the Financial Times, a newspaper in the United Kingdom. The Financial Times is known to have just under 20% of its subscriber base as millionaires. Therefore, an ad appealing to people to invest, due to the extreme uncertainty in the economy and daily life. What should people invest in according to Galaxy Digital? Bitcoin.
Of course, the major question hanging on everyone’s minds is; will all the public relations efforts increase acceptance of cryptocurrency? At this point, the answer is not clear. However, industry leaders of crypto are wary over what the impact of these media drives may be.
Impact Of The Advertisements On The Fintech Industry
CEO of The Tie, Joshua Frank, shared his thoughts on the matter recently. Stating that the Galaxy Digital strategy was linked to the current idea that Bitcoin is an alternative to gold. He continued that he believed the television commercials would have a greater return on investment. However, he stated that the greatest focus should be on social media.
As we have seen in the past, TikTok and key influencers, have had a major impact on crypto tokens. One memorable example would be DogeCoin. For cryptocurrency firms to take full advantage of this wave of interest, they need to keep pace. Crypto tokens, especially Bitcoin, have been doing markedly well, despite the recent economic developments.
Experts have stated that there is a growing public dissatisfaction with rising inflation amongst traditional currencies. The opportunity to avoid this through cryptocurrencies is not only attractive but looking increasingly viable. The key would be to maximize authentic content within both the traditional and new media spaces.
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