Twitter Study Finds US Posts Most on Bitcoin and Facebook’s Libra
New research has found that the U.S. leads the world in the volume of tweets referencing bitcoin and Facebook’s planned Libra cryptocurrency.
Fittingly published as a Twitter thread by crypto trading platform The TIE, the study found that 38.9 percent of posts on Twitter arose in the U.S., while 10.5 percent came from second place U.K.
Canada, Turkey, India and Australia were next most prolific tweeters, in descending order of volume.
The TIE research also looked at sentiment – that is, whether tweets were talking positively or negatively about bitcoin. It found that of countries with at least 0.5 percent of the total bitcoin tweets, Peru was most positive, with Malaysia, Indonesia, Vietnam and Italy in second to fifth place, respectively.
Of those nations striking a more negative tone on the cryptocurrency, Venezuela has recently spawned the most negative posts with 62 percent of total tweets looking on the downsides. The finding is perhaps surprising, since the nation has been viewed as increasingly crypto curious amid its severe national currency crisis. After Venezuela, Mexico, Estonia, Brazil, and Ireland were most negative, again in descending order.
The TIE added that U.S. is generally “exceedingly positive,” with 61.5 percent of tweets being favorable toward bitcoin. On average, 59.8 percent of bitcoin tweets are positive globally.
In the thread, the company also posted a global map of sentiment (see below) marking whether each nation is generally more positive or negative.
And with Facebook having recently unveiled its planned Libra cryptocurrency, to a mixed reception, The TIE also took a brief look at sentiment so far on the project.
It found that the U.S. again represents the largest global source of Libra tweets, and that the proportion (43.8 percent) was greater than for bitcoin (39.8 percent). As with bitcoin, the U.K. came in second place regrading Libra posts, with France, Canada and Australia in third to fifth places.
Regarding attitudes toward Libra, the research found there had been a shift since the news broke, with tweets originally tending to be more positive, but more negative (54.8 percent) today.
“Libra tweets were most positive in the United Kingdom, but tended to be much less positive in the US and France – countries experiencing regulatory pushback,” The TIE tweeted.