A full-page ad by Galaxy Digital published on Thursday (August 13) in UK-based international business newspaper Financial Times (UK) told readers that “now is the time to invest in bitcoin.”
Galaxy Digital is the crypto-focused merchant bank founded and headed by Bitcoin bull and former Goldman Sachs partner Michael Novogratz. It is headquartered in New York City, but it also has offices in San Francisco, London, Tokyo, Hong Kong, the Cayman Islands (registered office), and New Jersey.
As you can see, the ad shows the URL for Galaxy Fund management, which is the crypto funds division of Galaxy Digital.
Galaxy Digital Offers a number of “Galaxy Bitcoin Funds” (which are “low management fee, institutional grade vehicles for bitcoin exposure”) as well as a “Galaxy Crypto Index Fund” (which is “designed to track the performance of the Bloomberg Galaxy Crypto Index”).
Interestingly, three days earlier, Silbert’s Grayscale Investments unveiled its own TV commercial about digital currencies that did not explicitly mention Bitcoin but that listed at the end the names of the nine single-asset funds offered by the firm, i.e. Grayscale Bitcoin Trust, Grayscale Bitcoin Cash Trust, Grayscale Ethereum Trust, Grayscale Ethereum Classic Trust, Grayscale Horizen Trust, Grayscale Litecoin Trust, Grayscale Stellar Lumens Trust, Grayscale XRP Trust, and Grayscale Zcash Trust:
On the same day, this commercial was criticized by famous gold bug Peter Schiff, who seems to be obsessed with Bitcoin:
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.