From tweets to trends: How social media fuels crypto investing
New study shows that platforms like X and Reddit drive both awareness and risky investments

Social media has become more than just an avenue to stay connected and updated—it is shaping how people think, act, and even engage with investments.
Platforms like YouTube and Reddit have emerged as unexpected catalysts, fueling crypto awareness and encouraging more people to explore digital assets. A new study conducted by the University of Georgia (UGA) confirms this trend.
Roughly half of the social media users in the study had tried digital investments. Interestingly, those using a greater variety of platforms were even more likely to delve into crypto.
Reddit, YouTube, Clubhouse, and X users showed the highest likelihood of investing in cryptocurrencies. Researchers suggest this could be due to longer video formats on YouTube and extended discussion threads on Reddit, allowing deeper crypto conversations. With X often dubbed "Crypto Twitter," its role in driving awareness is unsurprising.
Lu Fan, an associate professor at UGA’s College of Family and Consumer Sciences, commented: "A lot of people talk about cryptocurrency on social media and how popular it has become... There are a lot of celebrities talking about this. People are thinking, ‘Because my friends, families, and celebrities I admire all invest in that, maybe I should too.’"
The correlation was clear: only 10% of those who did not use social media had crypto investments.
The study also highlighted other trends influencing crypto investments. Men and individuals with higher risk tolerance were more likely to invest in crypto, while those with higher educational attainment and older age groups were less inclined.
The risks of misinformation
While social media usage has clearly contributed to crypto awareness, the findings underscore a pressing concern: the challenge of distinguishing accurate information from misleading advice. Despite its potential to spread awareness, social media has also become a breeding ground for fraud and misinformation.
Fan explained: "Our study showed that younger adults are more likely to invest in crypto now, and they're also the majority of social media users." She stressed that this demographic, often with lower financial literacy, can be vulnerable to poor advice and scams.
This concern is supported by other industry reports. CoinWireZ recently revealed that 76% of X influencers promote dead memecoins—tokens based on internet memes with little to no value. Their data also showed that 86% of these tokens dropped by 90% in the last three months, leaving followers with heavy losses.
Another study by CryptoNinjas and Storible found that less than 1% of crypto influencers on TikTok have credible qualifications to give investment advice. Up to 68% of TikTok crypto content was identified as misleading, with 61% lacking proper risk disclaimers.
These findings highlight the risks of relying solely on influencer recommendations for investment decisions. While social media can offer valuable insights, it was never intended as a primary resource for financial guidance—especially for newcomers navigating crypto for the first time.
Its role in the crypto community
Despite the risks, social media remains central to the crypto ecosystem. Some platforms have evolved into key hubs for community interaction and education.
X has solidified its role as a digital hub for crypto discourse. Since Elon Musk acquired the platform, it has further embraced a thriving crypto community where prominent figures, exchanges, and blockchain projects engage in real-time discussions. Public figures like Michael Saylor, former CEO of MicroStrategy, and major platforms such as Coinbase actively contribute to these conversations.
Similarly, Reddit’s r/CryptoCurrency community has become a major space for news, analysis, and market discussions. The community is backed by the blockchain-based CryptoCurrency Moons (CCMOONS) DAO, reinforcing its crypto-native engagement model.
While misinformation remains a challenge, social media continues to shape the crypto landscape by driving awareness, engagement, and participation within the wider community. Navigating this space with caution and verifying information remains crucial for those entering the world of digital assets.