- Grayscale’s planned TV campaign for Bitcoin, Ethereum and Ripple is supposed to inform about cryptocurrencies via several national news networks this week.
- The information campaign is a further step towards the mainstream in order to strengthen confidence among investors, businesses and consumers.
In investor circles, crypto-currencies have long been recognized as promising and therefore worthwhile options. However, in order to really exploit the potential of crypto-currencies, cooperation with business and, above all, politics is essential. And although this cooperation is already being successively expanded, there is still one factor missing which is determining governmental courses to a large extent: the trust of the general population in cryptocurrencies. Grayscale is looking to change this.
Grayscale plans a large-scale TV campaign to bring Bitcoin, Ethereum and XRP into the mainstream
The founder and CEO of Digital Currency Group, the parent company of Grayscale Investments, Genesis Trading and CoinDesk, Barry Silbert, announced a few days ago a national TV campaign for Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP). Silbert wrote on August 7:
Are you ready? @Grayscale's national ad campaign kicks off next week with a TV ad on CNBC, MSNBC, FOX, and FOX Business. We're going to brrring crypto to the masses
Media: if you want a sneak peek, get in touch with @nitWitty
— Barry Silbert (@barrysilbert) August 7, 2020
The network giants CNBC, MSNBC, FOX and FOX Business have a total reach of more than 6.5 million people, with more than half of that being the FOX audience. According to current data from Statista, young viewers up to the middle age (up to 49 years) are mainly represented, so the young population also learns about the advantages and opportunities of cryptocurrencies.
The fact that the campaign runs through several networks with different target groups is an indicator of the goal Grayscale has set itself with this campaign. After all, the largest cryptocurrency asset manager is not only interested in serving a group of experts, but in reaching the mainstream and creating a basis for further growth.
Grayscale is one of the largest asset managers in the world and, since 2018, has also been the largest manager of cryptocurrencies worldwide. In recent months, interest among institutional investors to invest in cryptocurrencies has increased significantly. This is also shown by new quarterly reports of the company.
Institutional interest in crypto currencies explodes
As Crypto News Flash already reported, institutional interest in Bitcoin (BTC) and Ethereum (ETH) continues to grow rapidly. After the third Bitcoin Halving, Grayscale purchased about 1.5 times the amount of all newly mined BTC. If Grayscale maintains this pace, it could own approximately 3.4% of the total Bitcoin supply (about 625,000 BTC) by January 2021.
However, growth is not limited to BTC. According to a report from the end of April, about 1% of the circulating volume of Ethereum (ETH) was owned by Grayscale at that time. According to the latest data, Ethereum’s share of the total fund has increased to 11.7%. XRP accounts for just under 3.6% and Bitcoin for the bulk of the liquid assets at 81%.
It remains exciting to see what impact Grayscale’s TV campaign will have on the further adoption and growth of cryptocurrencies.