Its been a decade since Bitcoin came into existence and it’s almost the same time frame that crypto enthusiasts have been claiming Bitcoin to be “digital gold”. Considering how investment dynamics in Gold works, Grayscale Investment has launched a campaign to promote Bitcoin as an alternative to investing in gold calling it #DropGold.
Investments in Gold will be reallocated to Bitcoin by millennials says, Barry Silbert
Gold is currently the asset that is often found safe and is used widely as a hedge against market dislocations. But as the world is slowly progressing to the digital age, a lot of people, especially the millennials, have already started questioning Gold’s status as the best store of value.
Understanding this changing time and preferences, Grayscale Investments, a global leader in digital currency asset management, has launched a campaign which focuses 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 shift the mindset around modern investment opportunities and portfolio allocations. Although the campaign’s initial positioning is about promoting the emergence of Bitcoin as a viable digital asset, it is also expected to build awareness around Grayscale’s flagship Grayscale Bitcoin Trust ( OTCQX: GBTC )
Barry Silbert, Founder, and CEO of Digital Currency Group and its subsidiary Grayscale Investments candidly put forward the whole thought process behind this campaign. He was quoted by Associated Press saying
“There is a generational shift in how individuals are approaching investing. We strongly believe that investments in gold will be reallocated to Bitcoin as Baby Boomers begin transferring their wealth to a younger generation of investors, one that wasn’t raised on the gold standard,” “The gold industry has done a fantastic job of marketing an overpriced metal, but Bitcoin has superior physical properties and market utility. I believe that Bitcoin will become the store-of-value for our digital age.”
The webpage of the campaign has a commercial that put forward the question: Why is gold still in your portfolio? The commercial follows two heroes who escape an apocalyptic, gold-obsessed setting by embracing a digital future.
Speaking on this campaign idea Michael Sonnenshein, Managing Director at Grayscale Investments said
“We wanted to create a compelling, provocative, and illustrative story to showcase the absurdity of gold in our modern world. #DropGold is a call to action – investors should reassess and reallocate the gold in their portfolios, invest in Bitcoin, and reap the benefits of a diversified investment strategy,”
Grayscale has played really smart to attract the millennial investors to look beyond Gold and chose Bitcoin as an investment option. With this campaign, Grayscale believes that shifting a portion of a portfolio’s gold investment into Bitcoin could improve performance and enhance diversification.
Do you think this campaign will be successful in attracting more investment to Bitcoin? Do let us know your view on the same.