Grayscale Investments national TV ad, that hopes to bring cryptocurrency to the masses, has been officially launched. The ad will be featured on CNBC, MSNBC, FOX and FOX Business.
The 30-second video clip was released by Grayscale Investments on Twitter.
The commercial gives a brief history of money, highlighting the massive money printing of central banks and the pitfalls of paper money to compel people to invest in digital currency. The end of the commercial lists Grayscale Investments nine crypto currency trusts.
Grayscale Investments new commercial is the second advertising push from the leading digital asset investment firm. Last year Grayscale released two ads in succession comparing Bitcoin to Gold.
The Bitcoin Twitter Brigade Not Impressed
Single Currency Trusts
Grayscale Investments currently has $5.7 billion in assets under management for its Crypto Trusts
- Grayscale Bitcoin Trust (GBTC)
- Grayscale Bitcoin Cash Trust (BCHG)
- Grayscale Ethereum Trust (ETHE)
- Grayscale Ethereum Classic Trust (ETCG)
- Grayscale Litecoin Trust (LTCN)
- Grayscale Horizen Trust
- Grayscale Stellar Lumens Trust
- Grayscale XRP Trust
- Grayscale Zcash Trust
Grayscale Bitcoin Trust BTC (GBTC)
Grayscale Bitcoin Trust BTC (GBTC) was successfully registered with the Securities and Exchange Commission (SEC) in January 2020.
The New York-based crypto investment firm, Grayscale, a Digital Currency Group subsidiary, filed their quarterly report with the Securities and Exchange Commission (SEC).
Per the Filing
- the bitcoin held in GBTC increased by 125,531 to nearly 387,000 – a $1.15 billion increase in value based on bitcoin's spot price on June 30.
- inflows into GBTC came to $751 million in Q2.
The total value of Grayscale’s flagship Bitcoin Trust (GBTC) increased over $1.6 billion in the first six months of 2020.
- the dollar value of total assets in GBTC went from $1.87 billion at the end of 2019 to $3.5 billion by the end of Q2 2020 – an increase of 90%.
- the remaining increase came from the fact the bitcoin price moved from $7,200 on December 31 to nearly $9,200 by the end of Q2.
Parallels With The Merrill Lynch 1948 Ad Campaign
There is at least one successful historical precedent.
The famous and innovative advertisement ran on October 19, 1948 in the New York Times. The ad contained 6,540 words – the most anybody had ever used in a single page.
Nearing the end of 1948, the United States grappled with similarly bleak conditions to those today: the postwar economy was caught in the grips of a recession, facing a stock and bond market starved of liquidity, and inflation and unemployment rates both nearing 10%.
Few were willing to take risks with their money or even knew the difference between a stock and a bond.
Charlie Merrill, the legendary banker, is credited for popularizing stock and bond investments at a time when they remained alien to most of the population.
Merrill Lynch ran the same ad in newspapers across the country for years and the total number of responses exceeded 3 million, which translated into millions of prospective customers for the firm’s brokers.
The ad introduced Stocks and Bonds to the masses. Recapitalizing a country starved of investment by tapping the economic resources of the American middle-class.
Can Grayscale Investment repeat Charlie Merrill's feat by popularizing digital asset investments?
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