In the previous episode, we discussed the concept of silent adoption, focusing solely on the most popular and debated aspect of adoption: the purchase of Bitcoin—the monetary aspect. However, buying and selling is only the final phase of adoption, the one that ultimately brings it to completion. Before that, there’s another crucial step: awareness.
It goes without saying that one cannot adopt a technology without being aware of its existence. That’s why companies establish marketing departments: to introduce their product to potential customers. It’s up to these departments to determine the best methods to increase brand awareness, typically through two approaches that vary depending on each campaign’s goals: organic growth or paid growth.
The first refers to natural growth, which is not directly influenced by advertising investments or paid promotions. It may focus on increasing traffic, sales, or interest in a brand through content optimization, word of mouth, social media engagement, or other non-sponsored activities.
The second refers to growth achieved through investments in paid advertising campaigns, such as Google ads, social media advertising, display advertising, or other forms of promotion that require financial expenditure to gain visibility.
Apple can choose which strategy to apply to each campaign, as can Microsoft, Samsung, Meta, and all other companies. They can do this because they are hierarchical and centralized entities, with absolute control over their product. Bitcoin’s marketing department, on the other hand, cannot afford this luxury—for the simple reason that it doesn’t exist.
Organic Marketing: Pros and Cons
Advantages
One of the main advantages of Bitcoin’s organic growth is the authenticity of its spread. Without a centralized marketing strategy or campaigns backed by large budgets, Bitcoin’s awareness and adoption have expanded through word of mouth and the genuine interest of individuals. This has led, especially in the early years, to the emergence of highly motivated and informed user and supporter communities, deeply understanding the principles and values behind the technology: in two words, the early adopters.
Organic growth also fosters community innovation. Developers and enthusiasts can freely contribute to improving the technology without the restrictions imposed by commercial goals or intellectual property. If corporate logic had prevailed in Bitcoin, today the Lightning Network might not exist, blocks might be tens of megabytes each, and there would likely be only a few hundred nodes online. This is a reference to the Blocksize War.
Another feature of the lack of centralized marketing is the reduction of perception manipulation. Information about Bitcoin is disseminated through a plurality of sources, allowing individuals to form an opinion based on multiple perspectives. This contrasts with one-sided advertising campaigns that can heavily and artificially influence public perception.
The inevitable consequence is that within the community of insiders, there are numerous ideological clashes, some of them fierce. This is a good thing because unanimous opinions would make it too easy to reach consensus on future changes to Bitcoin. In short, unanimity would make Bitcoin much more fragile.
Disadvantages
The lack of centralized marketing can slow penetration into key markets. Traditional companies invest in market research and targeted strategies to expand their presence in new regions or demographic segments. When there is no such coordination, the only real coordinator is called the free market.
The absence of a representative entity makes it harder to engage with institutions and regulators. While other companies can lobby or participate in working groups with governments, Bitcoin has no singular organizational structure to play this role (though lobbying groups formed by entrepreneurs working in the industry have already emerged). This can lead to unfavorable regulations or misunderstandings that could hinder adoption. An example? The numerous Chinese bans.
The Unintentional Marketing of the Fiat System
Bitcoin positions itself as an alternative system to the current one, characterized by central banks and governments. Just as in a competitive market where companies gain market share at the expense of their competitors, Bitcoin grows when traditional institutions lose trust in the eyes of the public. In other words, the failures and inefficiencies of existing systems act as catalysts for Bitcoin adoption, becoming, ironically, unintentional marketing tools for the cryptocurrency.
A striking example is countries affected by hyperinflation. In nations like Venezuela, Zimbabwe, and Argentina, local currencies have lost much of their value due to ineffective economic policies and political instability. In 2019, inflation in Venezuela exceeded 10,000,000%, making the bolívar practically useless for daily transactions. In these circumstances, people sought refuge in alternative assets like Bitcoin to preserve their purchasing power: it’s no coincidence that Venezuela ranks fourteenth in the world for cryptocurrency adoption, according to the Global Adoption Index by Chainalysis.
In authoritarian regimes, where repression of free speech and financial control are commonplace, Bitcoin offers a tangible alternative. In 2020, during the protests in Nigeria against police brutality, the EndSars movement saw protesters’ bank accounts frozen. In response, activists began collecting funds in Bitcoin, bypassing government restrictions and financing their activities independently. Nigeria ranks second in the world for cryptocurrency adoption according to Chainalysis, ahead of even the United States and second only to India.
Even in Western democracies, there have been instances of financial censorship that have fueled interest in Bitcoin. Under heavy government pressure, the crowdfunding platform GoFundMe blocked donations to the “Freedom Convoy” in 2022, a group of Canadian truckers protesting pandemic restrictions. In response, supporters used Bitcoin to send funds directly to the protesters.
Do I need to mention the 2008 financial crisis that provided Satoshi Nakamoto with the perfect opportunity to publish the Bitcoin White Paper?
The inefficiencies and injustices of the traditional financial and political system indirectly promote Bitcoin adoption. Every crisis, scandal, or abuse of power fuels the search for alternatives that offer greater security, autonomy, and individual control. In this sense, the actions of governments and central banks become, paradoxically, extremely effective marketing tools.
Could this be why, even without Accenture’s advice, Bitcoin is one of the most recognized brands in the world?