User X posted more than 140 million tweets mentioning Bitcoin on Elon Musk’s social network.
Cryptocurrency talk on X increased in 2024 compared to 2023 as Bitcoin (BTC) developments dominated the digital asset space on the platform formerly known as X.
According to social listening protocol data from Visibrain published by crypto.news on Boxing Day, the number of messages containing the word “Bitcoin” has increased by 65% compared to last year.
Bitcoin mentions peaked in early 2024, coinciding with the approval of spot BTC exchange-traded funds issued by the US Securities and Exchange Commission. The BTC spot ETF on Wall Street managed more than $110 billion in investor assets, more than the assets attributed to BTC creator Satoshi Nakamoto.
As the year progressed, BTC talk of X retreated from January highs, rising sharply following social sentiment lows at $60,000 and the halving, a blockchain tweak that occurs every four years to reduce BTC’s scarcity.
Monthly mentions of BTC through X consolidated before rising again in November, boosted by President-elect Donald Trump’s victory and promises to make America the crypto capital of the world.
In early December, discussions about BTC on social media approached the levels seen immediately after the approval of the BTC ETF. More than 1 million X messages were posted as the largest cryptocurrency hit $100,000 for the first time, breaking the six-figure psychological barrier.
BTC changed hands for $95,000 the day after Christmas as the Santa Claus Rally cooled off before the New Year.
