It’s been a decade since Bitcoin existed, and it’s almost the same timeframe that crypto enthusiasts referred to Bitcoin as “digital gold.” Given how investment dynamics work in gold, Grayscale Investment has launched a campaign to promote Bitcoin as an alternative to investing in gold, which it calls #DropGold.
Millennials are shifting investments in gold to Bitcoin, says Barry Silbert
Gold is currently the asset that is often viewed as safe and is often used as a hedge against market distortions. But as the world slowly advances into the digital age, many people, especially millennials, have already begun to question gold’s status as the best store of value.
Aware of these changing times and preferences, Grayscale Investments, a global leader in digital currency asset management, has launched a campaign focused on the emergence of Bitcoin as an alternative to investing in gold. This came is branded as #DropGold. The whole purpose of this campaign is to change the mindset about modern investment opportunities and portfolio allocations. Although the initial positioning of the campaign is about promoting the emergence of Bitcoin as a viable digital asset, it is expected to also raise awareness of Grayscale’s flagship Grayscale Bitcoin Trust (OTCQX: GBTC).
Barry Silbert, founder and CEO of the Digital Currency Group and its subsidiary Grayscale Investments has openly presented the entire thought process behind this campaign. He was quoted by the Associated Press as saying:
“There is a generational shift in the way individuals approach investing. We strongly believe that investments in gold will be switched to Bitcoin as the baby boomers begin to transfer their wealth to a younger generation of investors who did not grow up on the gold standard of overpriced metal, but Bitcoin has superior physical properties and market uses. I believe Bitcoin will become a store of value for our digital age. “
There is a commercial on the campaign website that asks the question: Why is gold still in your portfolio? The commercial follows two heroes who escape an apocalyptic, gold-obsessed environment by embracing a digital future.
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Michael Sonnenshein, Managing Director at Grayscale Investments, said about this campaign idea
“We wanted to create a compelling, provocative, and graphic story to show the absurdity of gold in our modern world. #DropGold is a call to action – investors should reevaluate and redistribute the gold in their portfolios, invest in Bitcoin and take advantage of a diversified investment strategy. “
Grayscale played really smart to get millennial investors to look beyond gold and chose Bitcoin as an investment option. With this campaign, Grayscale believes that switching some of a portfolio’s gold investment into Bitcoin could improve performance and improve diversification.
Do you think this campaign will be successful in attracting more investment in Bitcoin? Let us know what you think about it.
Disclaimer of liability
The content presented may contain the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication assumes no responsibility for your personal financial loss.
About the author
For the past 8 years, Nilesh Maurya has been an investment banker with Omega Capital, a bespoke investment banking firm with offices in Mumbai, New York, Singapore and Dubai. He writes regularly for business publications such as Business India and Market Express and has been a mentor for many start-ups. For the past 8 years, Nilesh Maurya has been an investment banker with Omega Capital, a bespoke investment banking firm with offices in Mumbai, New York, Singapore and Dubai. He writes regularly for business publications such as Business India and Market Express and has been a mentor for many start-ups. Follow him on Twitter at @ KoinKing1 or connect with me on LinkedIn.