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Bitcoin’s popularity on social media platform X has reached unprecedented heights, with a staggering 65% growth in 2024. The data reveals that the number of tweets mentioning Bitcoin has skyrocketed to over 140 million, indicating a profound shift in public perception and engagement.
The figures are nothing short of astonishing, suggesting an immense surge in interest and curiosity towards the world’s largest cryptocurrency by market capitalization.
As reported by Visibrain, a leading analytics firm, the data is clear: there has been a substantial increase in user activity on X related to Bitcoin. It appears that Elon Musk’s leadership has had a profound impact on the platform’s trajectory.
However, it’s essential to note that this upward trend might not be sustainable in the long run. As analysts have warned, market factors and challenges are looming large on the horizon. For instance, we’ve seen substantial outflows from US spot Bitcoin ETFs totaling $1.5 billion, which could sow uncertainty within the institutional investment community.
Despite these concerns, it remains unclear how this will affect the overall trajectory of Bitcoin’s popularity. While there may be some pullback or correction in the near term, one thing is certain: the cryptocurrency continues to capture the attention and imagination of millions worldwide.
It seems clear that the rise of X and its leadership under Elon Musk has only accelerated this trend further.
Source: bitcoinist.com
