{"id":584345,"date":"2020-08-18T12:46:00","date_gmt":"2020-08-18T16:46:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/key-timing-for-adoption-crypto-goes-mainstream-with-tv-newspaper-ads"},"modified":"2021-05-21T15:14:35","modified_gmt":"2021-05-21T19:14:35","slug":"key-timing-for-adoption-crypto-goes-mainstream-with-tv-newspaper-ads","status":"publish","type":"post","link":"https:\/\/platoaistream.com\/key-timing-for-adoption-crypto-goes-mainstream-with-tv-newspaper-ads\/","title":{"rendered":"Key Timing for Adoption? Crypto Goes Mainstream With TV, Newspaper Ads","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n
Amid turbulent times for the world at large, the cryptocurrency space seems to be cruising on its own steam in 2020. The coronavirus pandemic has put a major strain on economies around the world, and countries such as the United States have seen their central banks resort to extended quantitative easing<\/a> in order to stimulate their financial ecosystems.<\/p>\n Some analysts believe that this continual fiscal stimulus is part of the reason that the cryptocurrency market is enjoying relative success compared with its traditional financial counterparts.<\/p>\n The likes of Anthony Pompliano, co-founder of Morgan Creek Digital, and Mati Greenspan, founder of Quantum Economics, have spoken to this very point in a number of recent newsletters to investors. Their insights have been directly mirrored by some major moves from traditional companies that have made significant investments into Bitcoin (BTC<\/a>) and other cryptocurrencies.<\/p>\n MicroStrategy, considered to be the largest business intelligence firm in the world, made headlines last week as it invested $250 million directly into Bitcoin<\/a>. The company hammered home its belief that Bitcoin is a superior store of value compared with other financial assets and will deliver better long-term appreciation than holding fiat currency.<\/p>\n Another clear sign that positive sentiment is soaring in the space is the growth of assets under the control of cryptocurrency fund manager Grayscale Investments<\/a>. Those numbers may well increase over the next few months considering the fact that Grayscale is now actively advertising its services<\/a> on mainstream television in the United States.<\/p>\n While it\u2019s not the first time that cryptocurrency exchanges and fund managers have advertised in traditional media outlets, the sheer amount of interest in the space suggests a shifting sentiment from the wider public.<\/p>\n As Cointelegraph Magazine explored on Aug. 10, the launch of Grayscale\u2019s television ad could be a major catalyst for increased investment in crypto<\/a>, likened to a Merrill Lynch ad in 1948 that introduced investors to the stock and bond markets. Grayscale released a teaser for the ad on Twitter, with the full version now running on CNBC, MSNBC, Fox and Fox Business, and other channels.<\/p>\n Our new commercial debuts TODAY… Trust us: AUDIO ON! #GoGrayscale<\/a> pic.twitter.com\/hPhUgp7HiY<\/a><\/p>\n \u2014 Grayscale (@Grayscale) August 10, 2020<\/a><\/p><\/blockquote>\n While Grayscale\u2019s ad is running on TV screens and social media channels, traditional print has not been neglected either. Galaxy Digital, famously set up by millionaire investor Mike Novogratz<\/a>, ran a large block ad on Aug. 13 in the well-known United Kingdom-based business newspaper the Financial Times<\/a>. The publication had over 1 million subscribers in 2019, with an estimated 18% of its readership being millionaires. The ad itself contains emotive language that encourages people to invest in Bitcoin by highlighting the tough sociopolitical and economic landscape this year.<\/p>\n Big ad for bitcoin in the FT today from Galaxy Digital. Love it pic.twitter.com\/ro05QdvDFf<\/a><\/p>\n \u2014 Barry Silbert (@barrysilbert) August 13, 2020<\/a><\/p><\/blockquote>\n Will mainstream advertising drive adoption?<\/p>\n The cryptocurrency space was already enjoying a period of heightened interest and resulting investment before these advertising campaigns were launched. What remains to be seen is whether these initiatives to coax new users into the ecosystem will pay dividends.<\/p>\n Cointelegraph reached out to Joshua Frank, co-founder and CEO of crypto data aggregation platform The Tie, to assess the potential efficacy of these marketing drives. Frank was not entirely surprised to see these advertising initiatives, given that running campaigns seems to be the mood of the hour, judging by the campaign of the controversial HEX token seen in the United Kingdom recently<\/a>. Nevertheless, he conceded that it\u2019s a change in tactics for the cryptocurrency industry:<\/p>\n \u201cA few years ago I would have never expected a print advertisement related to cryptocurrency. I think the transition to the Bitcoin as a digital gold narrative is the reason that a print ad has been pursued. Trying to get an older generation who invests in gold to view Bitcoin as a digital alternative.\u201d<\/p>\n<\/blockquote>\n Frank is of the opinion that Grayscale\u2019s television ads are likely to be more impactful than Galaxy Digital\u2019s print campaign, although he noted that the response to Grayscale\u2019s video may not have been as positive as the firm had desired.<\/p>\nTargeting the masses<\/h2>\n
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Social media influencers may have biggest impact<\/h2>\n