India among top 5 nations who tweet most about Bitcoin

Last Updated: Fri, Jul 05, 2019 10:27 hrs
Bitcoin Investments

New Delhi: India is among the top five countries that tweet the most about Bitcoin and Facebook's upcoming "Libra" cryptocurrency.

The US leads in the volume of tweets referencing Bitcoin and "Libra" digital coin that is expected to come in 2020, revealed crypto-trading platform The TIE in a series of tweets.

The study found that 38.9 per cent of Bitcoin posts on Twitter were in the US, while 10.5 per cent came from the UK, at second place.

Canada, Turkey, India and Australia were next most prolific tweeters.

"Interestingly, the US represents an even larger proportion of Libra Coin tweets -- 43.8 per cent than BTC 39.8 per cent."

The US is generally "exceedingly positive" about Bitcoin, with 61.5 per cent of tweets being favourable towards Bitcoin. On average, 59.8 per cent of Bitcoin tweets are positive worldwide.

Among countries that represent at least .5 per cent of total Bitcoin conversations, Peru has been the most positive on average when talking about crypto, followed by, Malaysia, Indonesia, Vietnam and Italy.

The US and the UK represent nearly 50 per cent of total Bitcoin tweets.

"Like Bitcoin, the UK has the second most tweets on Libra. The UK is followed by France, Canada, and Australia as the country with the most Libra tweets," tweeted The TIE.

In India, the demand for Bitcoin has grown steadily as its volume surged from 82 to 235 in June this year, according to data by Bitcoin trading service LocalBitcoins.

Facebook last month announced a digital wallet subsidiary called 'Calibra' that would launch Blockchain-powered cryptocurrency "Libra" next year to help nearly one billion people globally who don't have a bank account but do have a mobile phone.

The new digital wallet for "Libra" currency would be available in Facebook Messenger, WhatsApp and as a stand-alone app in 2020. Facebook has tied up with 27 organisations around the world to start the non-profit Libra Association to create the new currency.