“Drop Gold! Buy BTC.” -- National TV Ad

Date: 
May 04, 2019
Read time: 
2 minutes

The writing on the wall doesn’t get much clearer than that. “Drop Gold! But Bitcoin,” is the hot new TV campaign now running on all the major news channels across the United States. If you haven’t seen it yet, give yourself a 30 seconds break and check it out.

The writing on the wall doesn’t get much clearer than that. “Drop Gold! But Bitcoin,” is the hot new TV campaign now running on all the major news channels across the United States. If you haven’t seen it yet, give yourself a 30 seconds break and check it out.

The commercial is full of people lugging heavy gold bricks around. They’re struggling, they’re losing money, they’re burdened down and stuck in the past. Then we see our hero, young and fresh-faced and smart. He drops his gold. He breaks free. He’s the modern man! And the voiceover -- electric and inspiring -- tells us to go ahead and try the hot new way of investing: Bitcoin.

It’s almost as polarizing and encouraging as the trailer for my book: Stolen Wallets And Where to Buy Them. Though I do admit -- they have a far bigger budget!

The commercial was funded by, and showcases, a company called Grayscale Investments. They are not a company to take lightly. They are worth over $1 billion and they are, by far, the largest bitcoin investment product globally. After all, they hold north of 1.2% of the outstanding bitcoin supply, making them one of the biggest “bitcoin whales” in our ocean.

As if that was not significant enough. They are allied with the biggest brokerage platforms, including “Ally Invest, Charles Schwab, E*TRADE, Fidelity, Interactive Brokers, TD Ameritrade, TradeStation, and Vanguard.”

Do You Know What This Means?

Mass adoption. The masses are gathering at the gates. Why? Because they don’t need to jump through all the hoops it takes to buy Bitcoin. All they need to do is contact their broker (or more than likely their broker will contact them with this “new offer”) and “diversify” their portfolio with the investment vehicle Grayscale offers: GBTC.

“Grayscale’s single-asset investment products provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC). Grayscale’s diversified investment vehicle, Grayscale Digital Large Cap Fund™, provides exposure to the top digital currencies by market capitalization.”

Simply put: Grayscale buys the coins, manages the coins, secures the coins, and jumps through all those hoops itself. All the masses need to do is then allocate ‘a portion of their portfolio, 401k, IRA’ to GBTC stock.

I say this is more than a step toward mass adoption -- It’s a giant leap.

 

Posted by R.R. Hauxley

R.R. Hauxley traveled around the world ... 1 year on 1 Bitcoin. 20 countries, 12 months, 1 Bitcoin. He wrote a book about it: Stolen Wallets and Where to Buy Them. Along the way he met and interviewed the sharpest, brightest minds in crypto today: Vitalik Buterin, Charlie Lee, and more. Today Rafael educates the crypto curious and delves further into the incredible world of blockchain.

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