Bitcoin more popular than ever on social media

A Star is Born – Bitcoin more popular than ever on social media

Bitcoin’s new record-breaking run means it’s also back in the social media spotlight.

New analytics data for Twitter shows that interest in Bitcoin on the social network is also hitting new record highs after the price of the market-leading cryptocurrency has now climbed well above US$30,000.

In a related tweet on Saturday, crypto market researchers at The TIE reveal that the number of unique Twitter accounts posting about Bitcoin has reached a new Bitcoin Bank high. This even trumped the previous record high of 64,000 accounts set during the record-breaking 2017/2018 run:

The number of unique Twitter accounts tweeting about #Bitcoin has just hit an all-time high of 66,832, surpassing the previous high of 64,652 set on 12/27/2017. pic.twitter.com/wW8t4fqeIT
– The TIE (@TheTIEIO) January 3, 2021

Joshua Frank, CEO of The TIE, reports yet more information to Cointelegraph that suggests interest is growing, and it’s not just limited to bitcoin.

According to Frank, the number of unique accounts posting about Bitcoin has actually jumped above the 70,000 mark for the first time since The TIE’s tweet. The total tweet volume for Bitcoin has also simultaneously pulverised the previous record set in December 2017, which was 135,000 tweets per day, by now reaching 140,000 Bitcoin tweets in 24 hours. As a result, the total number of crypto tweets has also reached a new record high of a quarter of a million per day.

However, the increased interest is not only evident on Twitter

As Cointelegraph had previously reported, the number of Google searches for Bitcoin is also increasing. Accordingly, the search query „How do I buy Bitcoin?“ is also gaining significant popularity.

Similar searches for Ethereum, on the other hand, cannot register such an increase, although the second-ranked cryptocurrency has gained 20 % in the last 24 hours.

Some voices speculate that the ongoing climb is due to „gate-keeping panic“ on the part of institutional investors, whereby retail investors are now also falling into the so-called „Fear-Of-Missing-Out“ (FOMO).