â€˜Invest In Bitcoinâ€™ Galaxy Digital Ad Tells Financial Times Readers
â€˜Now is the time to invest in Bitcoin,â€™ the full-page ad in UK-based international business newspaper Financial Times states.
Mike Novogratzâ€™s Galaxy Digital is following in Grayscale Investmentsâ€™ footsteps by releasing an ad for cryptocurrency to the general public, this time using print media.
A full-page ad for the cryptocurrency investment bank appeared in the U.K.-based international business newspaper Financial Times (FT) today.Â
â€œNow is the time to invest in Bitcoin,â€� the ad stated. â€œIn uncertain times, Bitcoin is a hedge independent of the hegemony.”
Big ad for bitcoin in the FT today from Galaxy Digital. Love it pic.twitter.com/ro05QdvDFf
â€” Barry Silbert (@barrysilbert) August 13, 2020
The Financial Times had more than one million subscribers as of 2019, with roughly 18% of them millionaires.Â
Major crypto campaigns this week
The news of Galaxyâ€™s ad appearing in print media comes a few days after a new campaign from Grayscale, which released a 30-second spot on business and finance cable TV channels starting on Aug. 10. Richard Heartâ€™s controversial HEX token also has ads plastered across the U.K. on London public transportation, in newspapers, and during soccer games.
Many viewers responded negatively to Grayscaleâ€™s ad, as there were hopes before it was unveiled that it could â€˜bring crypto investing to millions.â€™ Instead, it simply takes viewers through the history of currency, from seashells to paper.
Despite the wide reach of the FT and itâ€™s high net wealth demographic, some Crypto Twitter users were quick to criticise the seemingly outdated choice for a delivery system.
â€œWhen I think future, I definitely think print media,â€� said Crypto Twitter user Ryan Leonard.
â€œLittle ironic this ad is in the newspaper,â€� said Brett Dawidowski.
But the nature of print allows it to go into detail, labeling Bitcoin (BTC) as â€œan investable store of value asset that operates independent of the traditional financial system.â€�
â€œInvestors who worry about fiscal profligacy and helicopter money should recognize the value in Bitcoin’s inherent scarcity â€” its hard-coded fixed supply makes it a compelling hedge against inflation,â€� the ad states.
â€œBitcoin has outperformed all major asset classes over 3-, 5-, and 10-year periods, and it still has room to run.â€�
Twitter user uldtotten described Galaxyâ€™s attempt to educate the public on crypto as â€œso much cleanerâ€� than Grayscaleâ€™s ad.
â€œThis paper ad is more powerful than the Grayscale TV ad,â€� said cryptotothemoon.
The FT also released a fairly down beat report on XRP today, stating the token has a â€œcontroversial reputation in many parts of the cryptocurrency worldâ€� and had yet to achieve widespread adoption among banks.
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