The digital assets management Grayscale Investments has recently launched an advertising campaign promoting the bitcoin as an alternative to investing in gold. Called “Drop Gold”, the video has a provocative approach and indicates that investors are living in the past.
The campaign targets the gold as an outdated asset and that weighs on the portfolio, unlike the bitcoin. The cryptocurrency is shown as the updated asset of the digital world which is presented as the better option in terms of speed, safety and efficiency.
The campaign claims that the gold has qualities that gave it the authority to be the most common currency. For that reason, it has kept for centuries this position as the most widely recognized and successful currency in the world. However, the article points out that times have changed. “While the gold keeps its status as scarce, fungible and recognizable, our world is much different today. The idea that the gold is still the definitive value storage asset should at least be questioned.”
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Bitcoin would be a form of digital gold
The company argues that the gold values lag behind the world trends and is no longer adequate to meet the evolving needs of the modern society. “There are examples of gold prices that remain for decades (i.e. in 80 years until the early 2000) and are unable to keep pace with the inflation. And with the introduction of the bitcoin in 2009, the flaws in the gold dominance have become evident”.
According to the campaign, the digital world requires a form of digital gold. “We need something electronic, fraud-resistant, portable and accessible to everybody. In this way, it can keep the qualities of “good money” and a long-term store of value”. The Drop Gold also brings a reflection on new investments that are positioned for long-term growth. “It’s time to think differently. It’s time to redefine value in a modern, digital and globalized world”, it concludes.
