Decentralized Opinion Leadership: A Study of Crypto Influencers in the Twitter Discourse on Bitcoin

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dc.contributor.authorLichti, Constantin
dc.contributor.authorAdemi, Endrit
dc.contributor.authorTumasjan, Andranik
dc.date.accessioned2023-12-26T18:39:16Z
dc.date.available2023-12-26T18:39:16Z
dc.date.issued2024-01-03
dc.identifier.doi10.24251/HICSS.2023.344
dc.identifier.isbn978-0-9981331-7-1
dc.identifier.other5aae8cbb-f5e5-4041-859a-b936a4e27648
dc.identifier.urihttps://hdl.handle.net/10125/106727
dc.language.isoeng
dc.relation.ispartofProceedings of the 57th Hawaii International Conference on System Sciences
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectSocial Media Influencers and Influencing
dc.subjectbitcoin
dc.subjectlinguistic content analysis
dc.subjectopinion leadership
dc.subjectsocial media influencer
dc.subjecttwitter
dc.titleDecentralized Opinion Leadership: A Study of Crypto Influencers in the Twitter Discourse on Bitcoin
dc.typeConference Paper
dc.type.dcmiText
dcterms.abstractBased on 115 million Bitcoin-related tweets from 2009 to 2022, we propose an opinion leader index (OLI) for decentralized technologies, such as Bitcoin, and identify the foremost Bitcoin opinion leaders (N=218 BOLs). The OLI consists of a scoring scheme for social media opinion leader classification along six criteria: audience engagement, niche alignment, reputation, audience reach, activity, and consistency. We further classify BOLs into eight archetypes and show that their tweet activity strongly correlates with Bitcoin price performance. Linguistic content analysis reveals that each BOL archetype exhibits a distinct communication style and content focus, with themes ranging from financial and technological aspects to power and politics. Our study advances the field by introducing a classification approach for social media opinion leaders in the context of decentralized technologies. We derive future research avenues for other decentralized contexts across different social media platforms and further measures of opinion leader influence.
dcterms.extent10 pages
prism.startingpage2853

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