Elon Musk has been hyping up bitcoin over the last few months with a myriad of tweets. Then on February 8, 2021, Tesla shocked the world investing $1.5 billion in Bitcoin, shifting the crypto marketing agency landscape. Even skeptics turned heads at the news of such a major player entering the game.
After the announcement, Tesla, Bitcoin, and Elon Musk began trending on Twitter and made headline news around the world. Now, Bitcoin’s value is up ten-fold, and one Bitcoin is hovering around $48,000. A crypto marketing agency needs to capitalize on this hype before it’s old news.
How a Crypto Marketing Agency Can Perpetuate The Excitement
As people continue to turn to cryptocurrencies, it is imperative that the crypto marketing agency landscape reflects what is happening in real time. Consumers are jumping onto the blockchain bandwagon because they are worried about inflation rates after the pandemic dissipates. The volatility of bitcoin doesn’t seem to be a deterrent anymore, especially after Tesla’s announcement that it will start accepting Bitcoin as a form of payment.
Elon Musk is seen as an authoritative figure, and many people are heavily influenced by him. He created a great news hook for any crypto marketing agency to use. With Musk’s name in the headline, mainstream media will pick up the story.
The SpaceX CEO proved to Wall Street he is able to manipulate the stock market and different blockchains based on his endorsements. After the announcement, Tesla stocks also jumped to $870 a share. Throughout the last year, the company’s stock skyrocketed 481%, increasing its market value to $822 billion.
CEOs of other crypto currencies and blockchain users need to be presenting thought leadership posts and other content surrounding the situation to mainstream and niche publications. The companies PR firms should also be setting up in-depth interviews with podcast hosts, on air radio shows and mainstream media–so the executives can get their names out, as experts on all things crypto, will help them gain credibility in the future.
Tesla is not the first corporation to put its money into cryptocurrency. Money management firm, BlackRock, and payment solution platforms Paypal and Square, already invested in Bitcoin or accept it as payment. Those in the crypto industry expect more corporations to follow suit, as crypto begins to gain legitimacy.
As this legitimacy grows, it is up to public relations firms to guide and consult with their clients on the best course of action. Crypto is no longer a taboo subject, but something we are seeing and will continue to see in the mainstream media.