Bitcoin [BTC], the largest cryptocurrency in the market, marked its 10th anniversary this year. Since then, the digital gold has been through the journey of being branded as a currency for criminals to being termed as a store of value. The adoption of the coin saw a significant increase with the coin hitting its current all-time high, $20,000 in late-2017, grabbing the attention of the entire world.
Now, the coin has entered a new phase with the launch of #DropGold initiative launched by Grayscale Investments, the firm to launch the first-ever Bitcoin investment product in the United States. The official announcement stated,
“Grayscale is again pushing the envelope for traditional investors with a clear message: it’s time to #DropGold. […] Grayscale is again pushing the envelope for traditional investors with a clear message: it’s time to #DropGold.”
The blog stated that #DropGold was “a call to action”, adding that it’s time for investors to re-assess and reallocate their gold portfolios. It further prompted the investors to invest in the digital gold, Bitcoin, thereby “reap the benefits of a diversified investment strategy”.
The blog stated,
“According to Grayscale’s hypothetical simulations, dropping even 15% of a portfolio’s SPDR Gold Trust allocation and replacing it with Bitcoin** over the last several years produced an annualized return that was over 15% higher than that of a purely gold allocation, with comparable levels of volatility.”
Additionally, this campaign aims to spread awareness of the benefits of Bitcoin, in comparison to gold, with the main ones being security, speed, and efficiency. Importantly, “It begs the question: why is gold still in your portfolio?”
“#DropGold is more than a hashtag, we are educating investors via DropGold.com, we’re shifting traditional investment mindsets with stunning creative, and you can also expect a “Bitcoin vs. Gold” debate […]”
— Barry Silbert (@barrysilbert) May 1, 2019
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