Mike Novogratz’s Galaxy Digital is following in the footsteps of Grayscale Investments by launching a crypto coin ad to the general public, this time using print media.
A full-page ad by the cryptomoney investment bank appeared today in the UK-based international financial newspaper, the Financial Times (FT).
The new „Doctor Who“ game will allow you to collect NFT from the
„Now is the time to invest in Bitcoin,“ the ad said. „In uncertain times, Bitcoin is independent coverage of hegemony.“
The Financial Times had more than a million subscribers in 2019, and approximately 18% of them were millionaires.
Why does Santander not yet use Ripple to make international payments?
This week’s major cryptomoney campaigns
The news of the Galaxy ad’s appearance in the print media comes a few days after a new campaign by Grayscale, which launched a 30-second business and finance ad on cable TV channels starting August 10. Richard Heart’s controversial HEX token ad also has ads scattered throughout the UK on London’s public transport, in newspapers and during football matches.
Many viewers responded negatively to Grayscale’s announcement, as before it was revealed there was hope that it could „bring the investment of cryptosystems into the millions“. Instead, it simply takes viewers through the history of currency, from seashells to paper.
Despite the FT’s broad reach and its high net worth demographic, some Twitter users were quick to criticize the seemingly antiquated choice of distribution method.
Ross Ulbricht sent corrections to his blog post by mail
„When I think about the future, I definitely think about print media,“ said Twitter user Ryan Leonard.
„It’s kind of ironic that this ad is in the newspaper,“ said Brett Dawidowski.
However, the nature of print media allows it to go into detail, labeling Bitcoin Storm as „an investment grade asset store that operates independently of the traditional financial system.
„Investors who are concerned about fiscal waste and helicopter money should recognize the value of Bitcoin’s inherent scarcity; its fixed, codified offer makes it a compelling hedge against inflation,“ the announcement says.
„Bitcoin has outperformed all major asset classes in 3, 5 and 10 year periods, and still has room to grow.“
Twitter user uldtotten described Galaxy’s attempt to educate the public on cryptology as „much cleaner“ than Grayscale’s ad.
„This paper ad is more powerful than Grayscale’s TV ad,“ said cryptotothemoon.
The FT also released a rather depressing report on XRP today, stating that the token has a „controversial reputation in many parts of the cryptomoney world“ and had not yet achieved widespread adoption among banks.