Bitcoin is Becoming Popular on TikTok
December 17, 2019 10:09 pm
TikTok has its first viral Bitcoin (BTC) related video as the firm’s owner reportedly launched a blockchain venture. The Wolf of Bitcoins, one of TikTok users posted the video depicts a room in a house equipped with dozens of cryptocurrency mining hardware units. The video displays a short caption, “this is why GPU prices went up,” and has several Bitcoin-related tags like “Bitcoin,” “explain Bitcoin” and “Bitcoin mining.”
The video has also reached more than 1 million views and over 109,000 likes on the platform. Thomas Schulz, Crypto entrepreneur posted the TikTok video in a tweet. Thomas also described the video as the “first viral Bitcoin TikTok.” He also clarified that he wasn’t the one who made that video, noting that it was the first time when Bitcoin appeared on his TikTok feed.
TikTok has 500 million monthly active users and is the third most-downloaded app in the Apple App Store in the United States. The app’s short video feed is managed by a purpose-built AI to predict and deliver content that the user will likely prefer.
Some commentators have criticized TikTok’s approach to deciding which videos to show users so far. In a blog post in 2018, Connie Chan, a venture partner at venture capital firm Andreessen Horowitz, argued that TikTok “completely controls what users see”
“The platform can decide to show videos that are upbeat, funny, and/or wholesome — in fact, the entire vibe of the platform is largely under TikTok’s control because they, not users, decide which videos to display. Even if a user subscribes to a creator, there is no guarantee that he/she will see all of the creator’s videos.”