For years, social media and cryptocurrencies have been developing in parallel at a breathtaking pace, and nothing has changed to this day. But what makes up the relationship between Bitcoin and social media? <\/p>\n
What began in 2016 with simple forum posts quickly developed into a social phenomenon. For the first time, social media showed keen interest in cryptocurrencies and spread relevant news like wildfire. An equally historic event took place six years earlier. Laszlo Hanyecz was the first person to exchange bitcoins for goods from the real world. In 2010, the building contractor from Florida paid 10,000 BTC for two pizzas from Papa John’s! Unthinkable from today’s perspective, the BTC was worth only less than half a cent at the time. <\/p>\n
However, this event showed the world that Bitcoin could actually be used as a real currency. And even though this news initially only reached a few ears, social media was already in play here. While these two pizzas would have been worth millions of dollars on today’s market, we owe quite a bit to this silly order. Only Laszlo Hanyecz is probably still annoyed. <\/p>\n
Thanks to the growing public acceptance and wider use of bitcoins and other cryptocurrencies, these are now considered socially and economically viable assets, with a value of almost $9,000 per bitcoin. It is also easier than ever to get into this business and set up a wallet, a digital wallet, for trading bitcoins. For example, crypto exchanges like Bitvavo<\/a> enable every newcomer to enter easily and safely in order to take the first steps in an unknown area. <\/p>\n Not everyone is familiar with the term influencer. But even those who don’t work in marketing will find it difficult to define \u201cinfluencer\u201d. Social media influencers are individuals who have made it their job to integrate certain products and services into their lives and thereby promote or market them. Among these influencers are also celebrities, such as actors or musicians, who build individual and personal brands based on their fame. <\/p>\n The medium of these influencers are media platforms such as Instagram, Facebook, Twitter, Snapchat and YouTube. They show themselves in a private environment and produce evaluable content, so-called peer reviews, which give their target groups a feeling of co-determination. In this way, they reach a huge, often cross-industry audience, all from the comfort of their own home. It is believed that 92% of customers find the content of influencers more appealing than the advertised products of traditional advertising models – such as commercials. <\/p>\n When it comes to the public acceptance of little-known industries and products, influencers are extremely influential. Probably due to the fact that the content comes from an already trusted source, quasi first-hand information. In short, influencers are an indispensable part of modern marketing. According to a 2018 study, every dollar spent on advertising campaigns through influencers yields an average of $7.65 in return. <\/p>\nThe Influencer Market<\/h2>\n