🌎 Bitcoin Dominates Crypto Conversation

Bitcoin Dominates Crypto Conversation on X with Over 140 Million Mentions

Bitcoin has taken center stage in the cryptocurrency space, with over 140 million tweets mentioning the digital asset on X, formerly known as X. According to data from social listening protocol Visibrain, posts containing the term “Bitcoin” grew 65% year-over-year, making 2024 a significant year for Bitcoin developments.

Bitcoin Mentions Peak in Early 2024

The surge in Bitcoin mentions coincided with the approval of spot Bitcoin exchange-traded funds (ETFs) issued by the U.S. Securities and Exchange Commission. The Wall Street spot Bitcoin ETF complex managed over $110 billion in investor assets, surpassing the holdings attributed to Bitcoin’s creator, Satoshi Nakamoto.

Bitcoin Chatter on X Retreats and Spikes

After peaking in January, Bitcoin chatter on X retreated, only to spike again in November, driven by President-elect Donald Trump’s victory and promises to turn America into the world’s crypto capital. In early December, social media Bitcoin discussions neared levels seen after spot Bitcoin ETF approval, with over 1 million X posts published as the top cryptocurrency hit $100,000 for the first time.

Key factors that contributed to the surge in Bitcoin mentions on X include:

Approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission
President-elect Donald Trump’s victory and promises to support the cryptocurrency industry
The halving, a blockchain tweak that happens every four years to improve Bitcoin scarcity

Bitcoin Price Hits $100,000 Mark

As the top cryptocurrency broke the six-figure psychological barrier, Bitcoin changed hands for $95,000 a day after Christmas, marking a significant milestone in the cryptocurrency market.