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Google Opens Doors To Crypto Advertising, Potentially Accelerating Mainstream Adoption

Portfolio Pulse from Murtuza Merchant

Alphabet Inc (NASDAQ:GOOGL) has updated its advertising policy to allow certain cryptocurrency products, including Cryptocurrency Coin Trusts, to advertise on its network starting Jan. 29. This change could increase mainstream adoption of cryptocurrencies by enhancing visibility and credibility. The Grayscale Bitcoin Trust (OTC:GBTC), now a spot Bitcoin ETF, stands to benefit from this policy change. Previously, Google and Meta (NASDAQ:META) had banned crypto advertising in 2018 due to concerns over scams and volatility.

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January 29, 2024 | 6:58 pm

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GBTC

POSITIVE IMPACT

Grayscale Bitcoin Trust, now a spot Bitcoin ETF, may experience increased exposure and investment inflow due to Google's updated ad policy.

The inclusion of cryptocurrency products in Google's advertising network directly benefits GBTC, as it can now advertise to a broader audience. This increased exposure is likely to attract more investors, potentially driving up the trust's value.

CONFIDENCE 75

IMPORTANCE 85

RELEVANCE 90

GOOGL

POSITIVE IMPACT

Alphabet Inc's decision to allow crypto advertising may enhance its ad revenue and reflects confidence in the crypto market's future.

By opening up to crypto advertising, Alphabet could see an increase in ad revenue as it taps into the growing cryptocurrency market. This move also indicates Alphabet's belief in the long-term viability of cryptocurrencies, which could positively influence investor sentiment.

CONFIDENCE 80

IMPORTANCE 70

RELEVANCE 80