RIO DE JANEIRO, BRAZIL – Twitter is Brazilians’ network of choice when it comes to finance, and cryptocurrencies have been the dominant topic among local investors throughout 2021, according to research conducted by the platform itself, released on Wednesday, November 24.
The survey prepared by Twitter Brazil’s Marketing Insights & Analytics team also found that between January and September this year, posts on topics related to financial investments accounted for a total of 14 million tweets – up 400% compared to the same period last year.
The survey also found that 81% of social network users want to invest more next year compared to what they saved this year, and 66% said they were looking for more profitable investment instruments.
The dominance of cryptoassets was absolute in 2021, according to the figures. The hashtag #cryptocurrencies was used in 62% of posts about finance in Brazil. From January to September, over 4 million posts contained the hashtag. Particularly among the younger population: half of posts with the hashtag were published by users up to 24 years of age.
Twitter is also the social network where users are more enthusiastic about cryptocurrencies, with 40% more investors than Facebook, Instagram and TikTok. The amount of people who think that cryptocurrencies are the future of online financial transactions is even higher, at 53%.
Another statistic is that 17% of Twitter users said they were willing to give up bank accounts and services to use only digital assets.
Other economy-related topics on the rise on the social network throughout 2021 were unemployment and inflation. From January through September, posts with the terms “looking for a job” and “inflation” grew by 667% and 149%, respectively, compared to the same period last year.
Users had split opinions about the impact of the coronavirus pandemic on their economies. While 52% stated that Covid-19 had a major negative effect, 44% said they were little or not at all affected.
The survey also traced the financial profile of social network users and found that 94% of them have a bank account, 87% save money or have some home equity, 79% have a credit card, 42% work full time, and 58% have an interest in finance and economics.
Irrespective of what the cloudy economic scenario holds for the population in 2022, it is becoming increasingly clear that cryptocurrencies have been widely adopted by Brazilians.