PERCEPTION MANAGEMENT AND BITCOIN: THE CASE OF ELON MUSK

Abstract

This study was carried out to show the effect of perception management on Bitcoin prices. Perception management is expressed as making the targeted ideas accepted by the masses by applying various strategies. With the effect of globalization and digitalization, it is observed that perception management is frequently used by politicians, journalists and individuals. It is seen that perception management is carried out with digital media opportunities and thoughts are expressed through various platforms. Perception management, which causes manipulation in some channels, is usually carried out by people watched by the masses. In the study, the effects of the shares made by Elon Musk on the Twitter platform on Bitcoin prices are shown. In the study, three shares made by Musk and Bitcoin price activity at that time were examined. As a result of the study, it was found that the positive and negative perception management on Bitcoin prices and the shares made by Musk are linear. In particular, it should be noted that although Musk's shares are not the only effective factor in the decline or rise of the Bitcoin price, these shares have greatly affected the prices. In later studies, it is recommended to analyze perception management examples performed by different people.