Grayscale’s Bitcoin Advertisement Flop : Fails To Impress Investors

Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • Grayscale’s first advertisement titled ‘The History of Money’ aired on major television channels
  • Paul Brody, the global innovation leader in blockchain technology at Ernst & Young tweeted that he does want to see the growth of blockchain technology
  • Barry Silbert, the parent of the Grayscale Investments in a tweet while promoting the campaign said that the advertisements would bring crypto to the masses

On Monday, Grayscale’s first advertisement titled ‘The History of Money’ aired on major television channels. The advertisement was a part of its campaign to promote its digital asset trust and to drive cryptocurrency adoption. 

However, the thirty seconds advertisement did not receive much appreciation from the community. This was because throughout the video there was not a single mention about Bitcoin or any other cryptocurrency in particular. 

Rather the clip was more focused on how the modes of trading and how means of payment evolved over the ages. The video starts with a bunch of stone-age people, continues with the barter system, and how it evolved to the paper currency that we use today. The video specifically mentions barter, metal coins, and then ‘printing unlimited amounts of money’. Out of nowhere, the video concluded on a note that ‘it is time for digital currency’. 

Ernst And Young Innovation Leader Calls It A Bad Economic Idea

Although the names of cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin were mentioned at the very end of the clip they were in context to the investment products that Grayscale offers.  

Paul Brody, the global innovation leader in blockchain technology at Ernst & Young tweeted that he does want to see the growth of blockchain technology. But he strongly detests further amplification of bad economical ideas for instance this one, which undermined Bitcoin and upheld the idea that printing money is necessarily and automatically bad. The video did not explain how printing unlimited money enhances the adoption of Bitcoin and other digital assets. 

Lame Video With Unnecessary Background Music

The number of negative comments on the advertisement is relatively greater than those of the positive ones. Barry Silbert, the parent of the Grayscale Investments in a tweet while promoting the campaign said that the advertisements would bring crypto to the masses. However, it seems that people were not at all convinced on the utility of crypto with a campaign video so poor and lame. The video totally missed the point of introducing crypto to the people who have no idea about them. 

In some comments, the user simply said that it was very vague of such a big digital assets management company to use a video that has some major technical issues. The typical rock background music seemed totally unnecessary as it overpowered the entire video and hindered the narrator’s voice. 

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