In brief

  • A Hong Kong non-profit is taking out ads to educate citizens about Bitcoin.
  • The ads urge users to "be their own bank."
  • Trams and bank locations in Hong Kong will feature the billboards until October 8.

Trams and major landmarks near Hong Kong’s famed banks will feature Bitcoin ads until October 8, courtesy of an initiative by a local Bitcoin non-profit.

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The Bitcoin Association of Hong Kong (BAHK), a non-profit that holds meetups and promotes the use of Bitcoin in the city, is using community donations to advertise the “risks and merits of Bitcoin” via billboard ads at some areas with high footfall in Hong Kong.

“More U.S. Dollars have been printed in 2020 than were in existence in 2009. There will only ever be 21 million Bitcoin,” reads one ad, pointing to the incessant money printing in the US that has led to fears of widespread inflation in the country.

 

The BAHK said, in a release, “We hope the campaign will give us the opportunity to discuss how Bitcoin fits into a quickly digitizing global economy, the opportunities and dangers of drastic technological advancements, and the implications of digital, verifiable scarcity.” 

Carrying the Bitcoin message will be three double-decker trams—which carry over 200,000 passengers every day—and billboards near various bank headquarters, such as the HSBC, Standard Chartered, in the bank district of Chater Garden.

Bitcoin ads in the bank district of Hong Kong. Image: BAHK

Despite the boldness of the move, the ads are no promotion for BAHK. Instead, they are strictly educational and even come with an attached tongue-in-cheek warning, “Your Bitcoin is your responsibility. There will be no bailouts or quantitative easing. You can verify the total supply of Bitcoin with your home computer on the blockchain.”

Leo Weese, the co-founder of the BAHK, told Decrypt the move helps drive conversation around Bitcoin in the city, one that’s marred with political instability in recent times.

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“There are quite a few people very enthusiastic about Bitcoin who would want to talk more about it. The ads give a good conversation starter and generally elevate the topic in public perception,” said Weese. He added that the team does not expect any backlash from the local governments or the banks for placing the ads.

Hong Kong’s no stranger to Bitcoin ads. Last month, the city’s Apple Daily newspaper took out a full-page Bitcoin ad after its founder Jimmy Lai was arrested for allegedly speaking against Chinese influence in the city. 

But will Hong Kong take note?

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