When users search for $BTC on Twitter, they will now be able to invest into bitcoin via eToro.
eToro has partnered with Twitter to allow users to invest into assets with $Cashtags, in addition to expanding the number of financial assets that users can see real-time prices for when using the feature. Currently users can see live price charts for a select few financial assets. After the eToro partnership, the list of $Cashtags that produce live price charts will be “hugely expanded,” according to a press release, while users will also be able to click through to the eToro platform to see more information on the asset and have the option to invest. The partnership will cover $Cashtags representing a wide range of instruments on the eToro platform, including Bitcoin.
Twitter added pricing data for $Cashtags in December 2022 and the feature has since seen widespread adoption with more than 420 million searches for $Cashtags since the start of the year, according to the press release. On average, the release says, there are 4.7 million $Cashtag searches a day with activity increasing around prominent earnings announcements. The most commonly used $Cashtag was $TSLA (Tesla), with $BTC (bitcoin) ranking in the top five.
Yoni Assia, CEO and co-founder of eToro, said, "Financial content on social media has provided education to many who have felt excluded by more traditional channels. Twitter has become a crucial part of the retail investing community — it’s where millions of ordinary investors go every day to access financial news, share knowledge and converse.”
"We believe real change starts with conversation and finance and investing is a growing part of that conversation,” said Chris Riedy, vice president, global sales and marketing at Twitter. “We are pleased to partner with eToro to provide Twitter users with additional market insights and greater access to investment capabilities. Twitter will continue to invest in growing the #FinTwitter community."
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