Mike Novogratz ‘Galaxy Digital, following the lead of Grayscale Investments, launches an ad for cryptocurrencies to the general public, this time using print media.
A full page advertisement for the Cryptocurrency Investment Bank appeared today in the UK business newspaper The Financial Times (FT).
The announcement says, “Now is the time to invest in Bitcoin.” “In turbulent times, Bitcoin is an independent hedge against dominance.”
The Financial Times has more than 1 million subscribers as of 2019, with about 18% being millionaires.
Big crypto campaigns this week
The news of the Galaxy ad in print comes days after Grayscale’s new campaign, which ran a 30-second commercial for cable TV channels for business and finance starting August 10th. The UK is in London, in newspapers and meanwhile in public transport football matches.
Many viewers reacted negatively to Grayscale’s announcement, as there were hopes prior to revelations that it could “make crypto investments of millions”. Instead, it guides the viewer through the history of coinage, from coinage to paper.
Despite FT’s ubiquity and net demographics, some Crypto Twitter users were quick to criticize the seemingly outdated option for the delivery system.
Crypto Twitter user Ryan Leonard said, “When I think of the future, I definitely think of print media.”
“It’s a little ironic that this advertisement is in the newspaper,” said Brett Dawidovsky.
However, the nature of the printing allows one to go into detail and describe Bitcoin (BTC) as “an investable store of valuable assets that function independently of the traditional financial system”.
The announcement said, “Investors worried about extravagance and helicopter money should see the value of Bitcoin’s inherent scarcity – its crypto-pegged offering makes it a compelling hedge against inflation.”
“Bitcoin has outperformed all major asset classes over the past 3, 5 and 10 years and still has operational leeway.”
Twitter user uldtotten described Galaxy’s attempt to educate the public about cryptocurrencies as “much cleaner” than Grayscale’s ad.
“This paper advertisement is stronger than a grayscale television advertisement,” said Cryptotothemoon.
FT also released a relatively low-level report on XRP today, stating that the token “has a controversial reputation in many parts of the cryptocurrency world” and has not yet found widespread acceptance among banks.