Following in the steps of Facebook and Google, Twitter is now expected to ban cryptocurrency ads on its platform. That deals yet another blow to cryptocurrency firms looking to advertise, who now find themselves shut out of 70 percent of the online ad market. That will most likely affect smaller and newer firms the most, as larger and more established cryptocurrency firms already benefit from their existing name recognition.
Of course, if cryptocurrency-related concepts are as transformative as many proponents claim, there are probably numerous cryptocurrency enthusiasts out there working for a solution to get around these bans. The solution may very well be to rethink and reimagine the very model of internet advertising, resulting in new platforms that will sidestep the existing online advertising behemoths. There would perhaps be no sweeter justice to hardcore cryptocurrency enthusiasts than seeing Facebook, Google, and Twitter losing ad revenue to new and innovative platforms and concepts.
Much information within the cryptocurrency community also spreads through word of mouth, through sites such as Reddit. There’s no way to stop those lines of communication, so these ad bans won’t keep dedicated and informed investors from being able to make decisions about where to invest their money. With over 60% of Americans having heard of Bitcoin, it isn’t as thought the barn door can be shut with an ad ban.
While Bitcoin’s price took a bit of a hit in response to the news of Twitter’s decision, the price has subsequently rebounded after initial comments from the G20 meeting indicate that any forthcoming negotiations about cryptocurrency regulation won’t result in any sort of crackdown.
For Bitcoin IRA investors, the continued zig-zag of Bitcoin’s price in response to these various pieces of news can probably get tiresome after a while, but that just comes with the territory. In an industry as young, vibrant, and innovative as this one, prices may bounce around in the short term but the long-term trend remains ever upward.