Contrary to the seemingly bullish approaches in which social media platforms have taken when it comes to crypto and Web3, Instagram - which is one of the most influential of them all - has banned Bitcoin (BTC) discussions. 

The move comes as part of a new Ad Policy, wherein Bitcoin discussions are now part of a list of ‘certain activity’ that’s being restricted for community-protection purposes.

For the crypto community, the biggest talking point here is ‘why’ exactly this came about… or more specifically, why has it come about at a time when the Bitcoin and altcoin markets have (actually) experienced a fair share of green arrows.

A plausible idea is that the platform is preemptively preparing for some kind of anti-crypto regulation that we’re still unbeknownst to. Alternatively, the platform may simply be veering on the side of caution (whilst still having some information that we don’t know about). 

Of course, crypto is also highly associated with misinformation, scams, unregulated promotional content, and other fraudulent elements that ultimately cultivate Web3’s wild-west dynamics. With this in mind, perhaps the platform believes that these negative aspects outweigh the positives that come from freely-spoken Bitcoin discourse. 

Either way, the move flies in the face of two core requirements of what we’d deem a productive and informative social media platform. Firstly - and most importantly - it restricts the democratisation of financial resources - be it TradFi or DeFi - which in turn is detrimental to user-empowerment. Secondly, it discourages authentic engagement and activity on the platform (especially for the likes of Bitcoin Maxis etc.).  

Another confusing thought is that if there was ever a specific niche of crypto that isn’t prone to illicit activity (nor does its hodlers easily fall for it), it has to be the OG Bitcoin community. 

However finally - and when looking at things for what they are - those well-versed in social media antics will know that Instagram is by no means the go-to platform for proficient Bitcoin and crypto discourse (or any form of substantial discourse really).

Further, as you’d know, Twitter (X) is the place for that, and as intuition would suggest, it’s not likely that we’ll see its owner (and Dogecoin bull) Elon Musk implement the same censorship policies on his free-speech platform. 

Want More Cutting-Edge Crypto News? 

Follow Us: X TikTok Instagram Telegram LinkedIn 

Sign up to our newsletter at the bottom of the page

Check Out Our Top 10 Crypto Currencies of 2023

This article is intended for educational purposes and is not financial advice.