Key Takeaways
- Bitcoin's popularity on X has seen a 65% increase in 2024, with over 140 million tweets reflecting a surge in interest driven by market developments and community enthusiasm.
- The approval of Bitcoin ETFs by the SEC has attracted significant institutional investment, raising over $110 billion.
- Despite market fluctuations, discussions about Bitcoin continue to be prominent on X.
Bitcoin's Surge in Popularity on X
In 2024, Bitcoin's mentions on the social media platform X increased by 65% year-over-year.
Over 140 million tweets about Bitcoin were published on the platform.
Major Events Driving Bitcoin's Growth
This spike in Bitcoin-related discourse occurred at a time when critical events were unfolding in the crypto space.
In the first quarter of the year, the US Securities and Exchange Commission had granted its long-awaited approval for spot Bitcoin exchange-traded funds.
The buzz subsided in February, then rose again in November due to the election of Donald Trump as US President, who also promised America would be the epicenter for the Bitcoin industry.
Bitcoin-related conversation again picked up pace when it reached a new record high of $108,000 in early December and breached a crucial psychological threshold.
Despite this buzz, there is a steady outflow of Bitcoiners to Nostr, a decentralized protocol for online communication, as they seek an escape from centralized platforms that incentivize click baits and rage-driven content.
