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Libra trumps Bitcoin on Twitter as sentiment remains negative about Facebook’s crypto

Chayanika Deka

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Libra trumps Bitcoin on Twitter as sentiment remains negative about Facebook’s crypto
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Facebook is known for stealing the spotlight with its announcements and the news about its new cryptocurrency is no different. TIE, a cryptocurrency data firm recently confirmed that residents in the United States were more interested in talking about Facebook’s Libra than Bitcoin, the world’s largest digital asset.

TIE commented:

“Interestingly, the United States represents an even larger proportion of Libra Coin tweets 43.8% than BTC 39.8%. 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.”

The report also said that conversations on Libra began as positive but later turned out to be majorly negative, with 54 percent of the participants attacking it. Libra’s reach has become so worldwide that there was noticeable interest in countries like the UK, France, Canada and Australia too.

From a worldwide perspective, actions on Twitter were not related to the market activity whatsoever. This was put on display when it was found that the three of the top five positions in the rankings of the most-traded national currencies were taken by states not involved in those with the highest BTC tweet activity.

It was not just the TIE survey that shed a bad light on Libra but proponents in the space have passed their own comments too. Andreas Antonopoulos, the author of Mastering Bitcoin and a popular Twitteratti had recently stated that Facebook’s Libra was a disruptive force. He described Libra and Facebook’s impact on the cryptocurrency industry as:

“I think that large corporations have a tendency to swallow innovation and rip out all of the disruptive things and spit out something that is neutered and profit making and exploits their users because that is their obligation. Their obligation is to the shareholders.”

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Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.

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