Viral marketing at it’s best. Harry Potter author JK Rowling set bitcoin Twitter on fire when she said she doesn’t understand it and asked for explanation. She may as well have thrown a gas on a simmering fire.
The creative and passionate community, that is sheltering in place looking for creative outlets, was quick to send Rowling a barrage of explanations, articles and memes in an attempt to explain, or sell whatever they were selling. The analogies from the community quoted Voldemort, Dobby, Gringotts and other characters from the story. Why not? She has 14.6 million followers and if even a fraction of them go down the rabbit hole to learn more, this is great marketing for bitcoin.
Maybe Elon Musk was not selling Teslas but he jumped in as well: “Massive currency issuance by government central banks is making bitcoin internet ghost money look solid by comparison,” Musk said adding he still owns 0.25 bitcoin after saying he would sell his worldly possessions.
JK Rowling, unconvinced, also exposed the dangers of a celebrity dipping your toe in this pool: “People are calling each other simps in my mentions and a fake JK Rowling account has made a purchase of Bitcoin. How’s your Saturday shaping up?”
Is this campaign worth more than a multi-million dollar marketing campaign advocating bitcoin over gold? In a world before COVID-19, back in May 2019, Grayscale launched the “Drop Gold” campaign, which featured a 39-second commercial that shows a man and woman who race frantically around a financial district while people around them are weighed down by bulky gold. Grayscale spent on national broadcast and cable networks and on streaming services like Hulu and advertised heavily on social media sites.
Timing is everything and people aren’t running around the financial district, but did anyone try explaining the difference between gold and bitcoin to JK Rowling? In Harry Potter, the theme of gold runs deep, right down to the wizarding currency, and the glimmer of a Golden Snitch. Perhaps that’s a language JK Rowling would understand — without the cost of a national campaign.