The full-page advertisement in UK-based international company newspaper Financial Times states ‘Now is the time to invest in Bitcoin’.
Mike Novogratz’s who is the CEO of Galaxy Digital is following in Grayscale Investments’ tracks by publishing an ad for cryptocurrency to the general public, this time using print media.
A complete-page ad for the cryptocurrency investment bank appeared in Financial Times which is the U.K.-based international business newspaper.
The ad stated that “Now is the time to invest in Bitcoin,” and continued “In uncertain times, Bitcoin is a hedge independent of the hegemony."
As of 2019, The Financial Times had more than one million subscribers, with about 18% of them millionaires.
Crypto campaigns this week
A new campaign from Grayscale appears a few days after the news of Galaxy’s ad appearing in print media, which released a 30-second spot on business and finance cable TV channels beginning on Aug. 10. Richard Heart’s contestable HEX token also has ads plastered over the U.K. on London public transportation, in newspapers, and during soccer games.
Several viewers reacted negatively to Grayscale’s ad, as there were expectations before it was unveiled that it could ‘bring crypto investing to millions.’ Rather, it only takes viewers through the history of currency, from seashells to paper.
Despite the broad reach of the FT and it’s huge net wealth demographic, some Crypto Twitter users were fast to criticize the obviously outdated choice for a delivery system.
Crypto Twitter user Ryan Leonard said:
“When I think future, I definitely think print media.”
Brett Dawidowski told: “Little ironic this ad is in the newspaper.”
But the nature of print enables it to go inside of the detail, naming Bitcoin (BTC) as “an investable store of value asset that operates independent of the traditional financial system.”
The ad says that “Investors who worry about fiscal profligacy and helicopter money should recognize the value in Bitcoin's inherent scarcity — its hard-coded fixed supply makes it a compelling hedge against inflation.”
“Bitcoin has outperformed all major asset classes over 3-, 5-, and 10-year periods, and it still has room to run.”
Twitter user uldtotten called Galaxy’s effort to teach the public on crypto as “so much cleaner” than Grayscale’s ad.
“This paper ad is more powerful than the Grayscale TV ad,” said cryptotothemoon.
The FT also published fairly downbeat news on XRP, saying the token has a “controversial reputation in many parts of the cryptocurrency world” and had yet to gain widespread adoption among banks.
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