This week, a Bitcoin video went viral on TikTok for the first time since this popular platform popular with young people exists. The video highlights the BTC that several high-profile individuals and companies talk about.
The video shared by cryptographic entrepreneur Thomas Schulz showed a room full of mining equipment with the caption, "that's why GPU prices have gone up."
The growing popularity of Bitcoin and cryptocurrencies
Bitcoin is still considered to be in a short-term "bear" trend after falling from $ 13.900 to $ 7.000. Media quotes on the main cryptocurrency have declined and the number of ongoing operations in the cryptocurrency sector is noticeably the same. But, as Bitcoin approaches its twelfth birthday and the third block of half of its history, the main awareness of cryptocurrencies in general has started to increase.
For example, on December 15th, the popular Product Hunt product discovery platform tweeted "Bitcoin". Bill Pulte, whose grandfather launched the Pulte Group, said that cryptocurrency can help poor people around the world by providing them with a decentralized network to process transactions, stressing that he wants to promote the adoption of cryptocurrencies like Bitcoin, Pulte said:
"Cryptocurrency can help poor people in the world ... especially those who" can't have a bank account, "so I want to promote the adoption of digital currency. Leave a comment on why you need Bitcoin and I will choose a random person to send some "Satoshi" to. Yes, it's all true. "
Quotes about Bitcoin on platforms like TikTok and high profile individuals like Pulte can contribute to the overall increase in general awareness of cryptocurrencies. It is critical for Bitcoin to get the attention of the mainstream media before witnessing a widespread adoption of the digital currency, despite the rapidly improving infrastructure of the crypto market. Infrastructure is needed to complement the growth of an emerging asset class, but requires many people to use it to establish a network effect and increase its convenience.
What is the next step to do?
Just over 11 years have passed since Bitcoin was introduced into the financial market and the main media now treat it as a consolidated resource; there is significant interest surrounding it on various social media platforms. As companies continue to build on existing infrastructure in the market and regulators provide more clarity about various areas of the cryptocurrency industry, an increase in general awareness by people and the mainstream media is expected.
Bitcoin mining, for example, was a sector at risk of elimination by the Chinese government until the end of 2019. Last month, however, China lifted the restrictions on mining and recognized it as a valid sector. In addition, rumors of a China that would like to start introducing digital currency payments on the market repeatedly follow one another.
