Bitcoin appeared on the Las Vegas Sphere, a huge globe-shaped screen that can be seen from miles away, thanks to an ad from the crypto exchange Crypto.com.
On Monday, Crypto.com shared a video featuring the leading cryptocurrency, with the giant Bitcoin logo taking over the Las Vegas Strip.
The display then changed to show many golden digital Bitcoins on the screen, along with the Crypto.com logo.
Bitcoin Becomes the First Cryptocurrency to Debut on the Las Vegas Sphere
Bitcoin, the biggest cryptocurrency by market value and the pioneer of the crypto industry, is the first to get this advertising spot.
However, it wasn’t the only one competing for the spot.
Some members believe that if Bitcoin could secure the spot, their token might have a chance as well.
Despite their efforts, there has been no visible progress in getting their mascot displayed. This has led to speculation that the Las Vegas landmark might be hesitant to host cryptocurrency advertisements.
The recent Bitcoin advertisement has given new hope to the Dogwifhat community.
Some members think that if Bitcoin could make it, their token might have a chance too.
Ansem, a well-known pseudonymous meme coin trader and one of the organizers of the Dogwifhat fundraiser, shared the video with a simple smiley face, showing optimism.
Many in the community took this as a sign that Dogwifhat’s turn might be coming soon.
However, not everyone is feeling optimistic.
The lack of clear updates on the “Sphere Wif Hat” campaign has frustrated some supporters.
Free, another pseudonymous Dogwifhat investor, sarcastically commented on Twitter that the Bitcoin display must be an AI-generated deepfake, given the earlier promises that the Sphere wouldn’t feature crypto ads.
The Dogwifhat community’s Telegram channel has even set up an automatic reply for the frequent questions about the campaign’s status.
The automated message reassures members that they will be updated once a specific date is set.
It emphasizes that efforts are ongoing to secure a partnership and make their advertising campaign as impactful as possible.
Despite the excitement, some organizers, like Mihir and Quasi, have not offered any additional comments or updates.
In terms of market performance, Dogwifhat (WIF) has dropped 7% in value over the past 24 hours and is currently trading at $2.56.
In contrast, Bitcoin has seen a relatively small decline of about 2% during the same period.
Bitcoin Spot ETFs See $78M in Outflows
On July 23, Bitcoin spot ETFs experienced outflows totaling $77.97 million.
This was the first net outflow after twelve consecutive days of net inflows.
Among the ETFs, Grayscale’s GBTC saw a significant net outflow of $27.31 million, according to data from SoSoValue.
Similarly, the Ark & 21Shares ETF had a notable outflow of $52.29 million, while Bitwise experienced an outflow of $70.32 million.
In contrast, BlackRock’s iShares Bitcoin Trust (IBIT) bucked the trend with a net inflow of $71.94 million.
According to reports, digital asset investment products saw a significant inflow of $1.35 billion last week, bringing the total inflows over the past three weeks to a notable $3.2 billion.
Bitcoin remained a favorite among investors, attracting $1.27 billion in inflows last week.
FAQs
1. What was the recent Bitcoin advertisement about?
Bitcoin recently appeared on the Las Vegas Sphere, a massive globe-shaped screen visible from miles away. The ad, sponsored by Crypto.com, featured the giant Bitcoin logo taking over the Las Vegas Strip, followed by a display of many golden digital Bitcoins alongside the Crypto.com logo.
2. Why is Bitcoin’s appearance on the Las Vegas Sphere significant?
Bitcoin’s appearance on the Las Vegas Sphere is significant because it marks the first time a cryptocurrency has been featured on this prominent advertising spot. This move highlights Bitcoin’s leading role in the crypto industry and its increasing mainstream acceptance.
3. Were there other cryptocurrencies competing for the same spot?
Yes, other cryptocurrencies were competing for the spot. Notably, the Dogwifhat (WIF) meme coin community raised over $700,000 to secure a place on the Sphere but has not yet seen their mascot displayed.
4. How has the Dogwifhat community reacted to Bitcoin’s advertisement?
The Dogwifhat community has been both hopeful and frustrated. Some members see Bitcoin’s achievement as a sign that their token might also have a chance. However, there has been frustration due to a lack of updates on their campaign and speculation about the Sphere’s reluctance to feature cryptocurrency ads.
5. What is the current status of the Dogwifhat campaign?
The Dogwifhat community’s Telegram channel has set up an automatic reply to frequently asked questions about their campaign. The message reassures members that they will be updated once a specific date is set and emphasizes ongoing efforts to secure a partnership and maximize the campaign’s impact.
6. How has Dogwifhat (WIF) been performing in the market?
Dogwifhat (WIF) has experienced a 7% drop in value over the past 24 hours, trading at $2.56. This decline contrasts with Bitcoin’s relatively small 2% drop during the same period.
7. What recent trends have been observed in Bitcoin spot ETFs?
On July 23, Bitcoin spot ETFs saw outflows totaling $77.97 million, marking the first net outflow after twelve consecutive days of net inflows. Grayscale’s GBTC had a significant outflow of $27.31 million, Ark & 21Shares ETF saw an outflow of $52.29 million, and Bitwise experienced an outflow of $70.32 million. In contrast, BlackRock’s iShares Bitcoin Trust (IBIT) saw a net inflow of $71.94 million.
8. What are the recent trends in digital asset investment products?
Last week, digital asset investment products saw a significant inflow of $1.35 billion, bringing the total inflows over the past three weeks to $3.2 billion. Bitcoin remained a popular choice among investors, attracting $1.27 billion in inflows last week.
