Who Are Crypto Influencers and What’s Their Impact?
Novice investors and traders who are entering the world of digital assets for the first time are actively searching for information about this new industry. They educate themselves by reading books, watching videos, and subscribing to channels run by renowned experts in the cryptocurrency industry.
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Did you know that cryptocurrency experts can also be hotshots in other fields? Think investment bankers, IT bigwigs, showbiz celebrities, and savvy traders with years of exchange experience under their belts.
These guys know their stuff! Let's be clear, though: calling them crypto influencers isn't exactly accurate. So who really qualifies for that title?
Crypto influencers are widely-known and prominent individuals whose opinions are closely followed by a vast audience of subscribers, fans, and followers – we're talking millions, or even tens of millions, of people here! With a mere tweet or a few choice words, these individuals can significantly impact public opinion and even trigger changes in cryptocurrency value by spreading FOMO or FUD through social media and viral marketing tactics.
Put simply, crypto influencers are individuals who hold significant sway over their followers' thoughts and actions, as they are regarded as authoritative figures in the cryptocurrency space.
They often utilize social media accounts across platforms like Twitter, YouTube, Facebook, Instagram, and more to gather a substantial audience and disseminate tailored content.
What drives crypto influencers?
The goals pursued by crypto influencers vary widely. Some aspire to expedite cryptocurrency adoption, acting as blockchain evangelists who entice newcomers into the digital asset world. Others strive to instruct and educate, assuming mentor and instructor roles to advance a social cause. And then there are those who revel in the limelight and fame, wielding their influence over their audience and molding public opinion to serve their interests. After all, even celebrities have flaws and vices, whether big or small.
Are crypto influencers helpful or hindering?
As the old saying goes, “don't judge a book by its cover.” The same can be said about listening to a well-known individual. Whether or not you listen to them depends on the quality of the content they generate and the value they provide to their audience.
The guidance of crypto influencers like Willy Woo, a renowned analyst and seasoned trader, who generously offers insights into investment strategies and exchange predictions that consistently come to fruition, or Bitcoin crusader Michael Saylor, is not to be taken lightly. Their advice is definitely worth heeding.
Nonetheless, if you encounter notorious manipulators such as Elon Musk or the SEC chairman, Gary Gensler, be wary of the consequences. Musk encourages FOMO around particular cryptocurrencies, including Dogecoin, which ultimately leads to Pump&Dump schemes. Crypto adversaries such as Gensler consistently spread FUD and attack the crypto industry. Luckily, his following is not as extensive as others, making his impact less noticeable.
Where do crypto influencers publish their content?
Facebook's dominance and followers are gradually eroding due to its strict censorship from Meta's international moderation team, led by its CEO Mark Zuckerberg. On the other hand, LinkedIn caters to a corporate crowd and features dreary conversations about fictitious “corporate values” and the perks of office slavery. As for Instagram, it's more focused on visual content than text, while TikTok is aimed at a younger audience. As a result, crypto influencers gravitate towards Twitter and YouTube, where they can easily reach and engage with their target audience.
Celebrities and influencers favor Twitter for its versatility and conciseness. A graphic or image paired with a meaningful (or not always) message is precisely the type of format that requires minimal time and effectively delivers essential information to the audience.
Video content is emotionally engaging and has a wide appeal, which is why some crypto influencers prioritize YouTube, the most popular viral video hosting platform on the internet, to create compelling content for both cryptocurrency novices and experts.
Only a select few crypto influencers use Reddit and specialized blogs such as BitcoinTalk. These blogs cater to tech-savvy individuals by publishing highly interesting and informative content about blockchain with a technical emphasis.
Twitter and Youtube accounts of influential figures
Twitter accounts of thought leaders:
Elon Musk (Founder SpaceX, CEO Tesla) – @elonmusk (with almost 136 million followers)
CZ ( CEO Binance) – @cz_binance (8.3 million followers)
H.E. Justin Sun 孙宇晨 (CEO Huobi) – @justinsuntron (3.4 million followers)
Michael Saylor (Co-founder MicroStrategy) – @saylor (2.9 million followers)
Willy Woo (a well-known crypto analyst) – @woonomic (1 million followers)
Crypto influencers on YouTube:
Mike Jenkins (Coin Bureau channel) – 2,24 million followers
Ben Armstrong (BitBoy Crypto channel) – 1,46 million followers
Brothers Aaron & Austin Arnold (Altcoin Daily channel) – 1,3 million followers
Brian Jung – 1,29 million followers
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