Does Grayscale’s Latest #DropGold for Crypto Effort Entirely Miss the Point?

Leading crypto asset management firm Grayscale Investments has recently launched a campaign attempting to dissuade investors from gold whilst demonstrating the advantages of digital assets such as Bitcoin. The latest effort depicts Richard Nixon with words to the effect that gold wasn’t good enough for Nixon, so it isn’t a good investment today.

The problem is that much of the argument for fixed-supply digital assets that are based on immutable distributed ledgers, such as Bitcoin, is that they may one day usher in a future economic system built on a sound form of money. For those of an Austrian economic persuasion, as many Bitcoiners are, gold is a far better form of money than what Nixon rejected it for – fiat.

Attack Something Else About Gold, Grayscale!

Grayscale Investments recently made the news when it revealed that it would be targeting gold investors as part of a push to see a greater embrace of Bitcoin as a hedge against traditional investments. The crypto investment firm first put out a video advertisement that it reportedly intends to be shown on social media and streaming websites, as well as national TV tomorrow:

It has also launched the website, DropGold.com. On the homepage, it promotes Bitcoin as a light weight alternative to gold. On the site Grayscale states:

“It’s not that gold is bad.

It’s just that Bitcoin is better.”

It also references Richard Nixon and how he finally dropped the gold standard in the 1970s. This is the theme of the crypto investment firm’s latest Tweet as part of the #DropGold campaign:

The post’s tone seems to suggest that Nixon dropped the gold standard for something better. In reality, he dropped…

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