Social media activity is a metric that measures the impact of a product through buzz and feeling. The analysis can reveal some interesting data especially in digital assets such as Bitcoin, where the hype plays an important role. In another case, it reveals what people perceive of emerging but disruptive technologies.
While the United States dominates discussions about Bitcoin and cryptocurrencies in general, new studies reveal that the most valuable currency in the world is not as popular in South America as previously thought.
Fighting against inflation, and in some cases hyperinflation as in Venezuela, a new study by The Tie reveals the opposite. In a report, The Geography of Crypto Twitter: An in-depth look at Bitcoin, Ethereum, Litecoin, XRP and Bitcoin Cash, of the 113,685 tweets from Latin America were positive about Bitcoin.
Only Peru, with 93.1 percent of its tweet during the seven days of testing, painted Bitcoin under a good light. Interestingly, despite reports of Bitcoin’s role as a safe haven in Venezuela, citizens openly criticized Bitcoin. An excerpt from the statement reads:
With the exception of Peru, where 93.1% of tweets are the positive sentiment of Bitcoin in South America it is extremely low relative to the rest of the world.