Bitcoin is currently witnessing its best marketing campaign ever, according to InvestAnswers – here’s why
A popular cryptocurrency strategist says that Bitcoin (BTC) is inadvertently undergoing a positive branding process.
In a new interview with David Lin, the anonymous host of InvestAnswers says that Bitcoin is currently “witnessing its best marketing campaign ever.”
According to the analyst, the ongoing banking crisis has led to increased use of Bitcoin as people seek safe havens.
“During this last crisis in the last 10 days we had the fastest acceleration of new Bitcoin wallets we’ve seen. And of course Bitcoin is up 70% in the last 90 days. Extraordinary movement for such an asset.
And the question that people face, as you mentioned, it’s a brilliant question – what do you do, okay? I can’t trust the banks, I can’t trust the treasuries because the US government is printing money like crazy, so it’s going to depreciate like crazy.
Yes, I can get 3.5% or 4%, but the purchasing power drops by 14% in real terms. What should I do? Do I put it on the stock market? Well, everyone says we’re going into a recession, so the stock market is going to crash.
That doesn’t sound good. Where can I find a hard resource? We saw gold rise above $2000 for a few hours…
And it is an example of exactly what people are searching for. They want to find the safe haven for assets, where they can distribute cash. And that’s why we see Bitcoin as a new asset class…
It is probably witnessing the best marketing campaign ever.
And it was built during the last financial crisis. It is made for financial crises. And that’s why it’s going so well.
I think a lot of people are saying, okay, you know, even though I might not trust Bitcoin, I should have 2% – 5% of my money in it, just to be safe. Just in case everything else goes to hell.”
On Bitcoin’s rate of adoption, the host of InvestAnswers says that only a small percentage of the global population has embraced the flagship crypto-asset.
“When it comes to store of value, I look at something that is not very well adopted and which at the same time has a lot of value and is extremely difficult, i.e. no more of it can be printed. It’s Bitcoin.
You know 2.5% of the world has adopted it, but 97.5% of the world hates it. And they hate it because they don’t have it. And they hate it with a vengeance.
But after what’s just happened right now in the banking crisis we’ve had, it really speaks to the narrative of that.”
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