We’re less than a year away from the next Bitcoin halving (Bitcoin halving is an event that occurs approximately every four years, reducing the reward for mining a new block by 50%. This process halves the rate at which new bitcoins are created, thus limiting the total supply and potentially increasing the cryptocurrency’s value over time.), and interesting things are happening already. BlackRock filed for a bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) that would open its investors to exposure to the asset. In case you’re wondering, yes, BlackRock is the world’s biggest asset manager. The one conspiracy theorists think controls the world.
Not long after that, Democratic presidential contender Robert F. Kennedy Jr. announced that if he were elected, he’d back the U.S. dollar with bitcoin. While RFK Jr. doesn’t have much of a real shot at defeating incumbent President Joe Biden for the Democratic nomination, there’s simply no denying that the announcement itself is a historic moment. RFK Jr. is, after all, a Kennedy, and he has been getting lots of media attention.
Taking all this into account, the stage is set for an astonishing bull market for crypto by next year’s halving event, and companies in the space should prepare their Bitcoin PR efforts accordingly.
What can your Bitcoin PR do differently this time?
As we’ve become accustomed to seeing in the crypto market, the bear market has washed away many of the last bull market’s major players (FTX, Celsius, and the like). Any project mulling a serious Bitcoin PR initiative ahead of the halving should be aware that journalists are going to be more skeptical than ever. They were totally duped last time, and while we all know it won’t be the last time, news outlets will make every effort to make sure they’re not covering shady projects.
That means serious projects must make sure their branding is on point. Half-ass websites aren’t going to cut it—believe us, we’ve already seen journalists decline to cover super cool companies because their websites simply didn’t look legit. This might be an edgy industry, but a 1990’s UX isn’t cool anymore. Invest in your marketing language, website, and of course the overall UX of your product.
Of course, even before you get to that part, good PR begins with a strong product. That’s not to single out memecoin projects and the like—they can be fun, too. And if you know you’re just in it for the laughs and to make a quick buck, go for it. Lasting coverage, however, requires a real product or technology. For memecoins, the real PR storms tend to come only after you’ve blown up.
That doesn’t mean memecoins shouldn’t go for Bitcoin PR as a part of their marketing strategy. In this industry, legitimacy is a currency. Earned media offers more legitimacy than paid media.
Another thing to keep in mind is events. Even as the market sags, crypto events remain the places to be for founders trying to make a name for themselves. The truth is many crypto publications simply aren’t as choosy about the stories they publish as the top-tier, so in-person appearances, whether as a panelist, a booth, or a speech, really bolster your reputation when the market is hot.
How can a tech communications agency help with Bitcoin PR?
For projects looking to onboard an agency to help with their communications, selecting a team that has experience in both crypto and Bitcoin PR can ensure the most effective results in both media coverage and community management.
Most facets of crypto communications are intertwined with each other, but having a team in your corner that understands the nuances and unique needs of the Bitcoin halving cycle makes all the difference. From solidifying creative brand messaging and media outreach, to community management, our public relations experts leverage years of blockchain PR experience to deliver authentically impactful results. To learn more, schedule a free consultation with us.