Bitcoin Gets A Makeover

Laura Brodbeck

Wed, Feb 25, 2015, 10:00 AM

Scandals like the Silk Road trials and the Mt. Gox exchange collapse have severely damaged the public’s perception of bitcoin and slowed the rate of adoption considerably.

Worries about security and stability have kept the average investor from using the cryptocurrency despite growing enthusiasm among supporters about the possibilities that digital currencies provide.

However, some bitcoin-based firms are looking to reverse public opinion by embarking on a bitcoin image makeover aimed at promoting the cryptocurrency among millennials who are most likely to use it.

Bitcoin Targets Millennials

Firms like Bitcoin Foundation, BitFury and BitGo are counting on ad agency TheAudience to rework bitcoin’s image and renew the enthusiasm that surrounded the cryptocurrency in 2013.

The agency is planning to use online influencers to get bitcoin in front of millennials who will ultimately be the future of its adoption.

Platforms like Twitter, YouTube and SnapChat will be vital to the campaign’s success and ‘microcelebrities’ with large followings online will be tapped to promote their own use of bitcoin.

Bitcoin Bowl

This is not the first time bitcoin has been force-fed to the public. BitPay tried to help the cryptocurrency go mainstream by signing-on to a college football bowl sponsorship and holding the Bitcoin Bowl.

The mobile pay company ran its own TV ads during the game, and while BitPay gained some brand recognition, the campaign did little to wipe away bitcoin’s tarnished reputation.

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