If you watched the big game, you know that the crypto ads were out in full force.
Crypto.com had a few. Coinbase had one. FTX had one. They were all over the place.
And we all know that commercial real estate on Super Bowl Sunday is incredibly expensive.
I read this article comparing it to the “dot com” bowl from 20 years ago, when the Pets.com’s of the world did their big Super Bowl ads.
I think there’s some truth to their perspective. I mean, some of these companies won’t survive. The market will prune out the pretenders from the contenders, just like they do with the actual cryptos themselves.
But I do think there’s a big positive takeaway here as well:
We talk a lot about the “age of adoption” when it comes to crypto, the idea that we are seeing it become more and more mainstream, broadly accepted, and openly discussed.
Well, there’s nothing more “mainstream” than the Super Bowl.
And seeing three or four ads for crypto-related companies on Super Bowl Sunday is a big deal.
It’s just a sign that the legitimacy of and interest in crypto continues to grow.
And as we see interest grow, we see demand grow, and as we see demand grow, we’re probably going to see the value of crypto grow, too.
So even if it was a bit glitzy and even if Matt Damon shilling crypto is starting to get annoying, it still could be a good sign for the overall health of the crypto market.
There will be pruning, for sure. But the bears that think crypto could still be regulated out of existence are looking sillier by the day.
Jeffry Turnmire and InvestPub do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
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