Twitter Takes the Leap into Bitcoin 🤯
Elon Announced Partnership with eToro to Enable Trading of Bitcoin, Stocks and Cryptocurrencies on Twitter!
Twitter is partnering with eToro, a social trading company, to give its users access to stocks, cryptocurrencies, and other financial assets. The feature, which is set to be rolled out on Thursday, will allow users to view market charts on a wider range of financial instruments and buy and sell assets from eToro on the Twitter app. The cashtags feature on Twitter will be expanded to cover more asset classes, and users can click on the "view on eToro" button, which takes them to eToro's site to buy and sell assets.
The partnership comes at a significant time for Twitter, with Elon Musk's leadership driving the company towards its goal of becoming an "everything app" that combines social media with financial services. This partnership with eToro is a rare and noteworthy business deal for Twitter since Musk took over as CEO after buying the platform for $44 billion last year.
Musk's ambition to turn Twitter into a "super app" can be traced back to his early days at PayPal, the online payments giant he co-founded in 1999. Musk was instrumental in the creation of X.com, an online payment company that was later merged with Confinity to create PayPal. X.com is widely regarded as one of the first online banks, and Musk's experience at the company gave him a deep understanding of the intersection between finance and technology.
Fast forward to today, and Musk's vision for Twitter is not so different from his vision for X.com. Musk has said that he wants Twitter to become "the biggest financial institution in the world." It's a bold statement, but one that is not entirely surprising given Musk's track record of success in the tech industry.
EToro, which was founded in Israel in 2007, is an online brokerage that allows users to buy and sell stocks, cryptocurrencies, and index funds. One of its most popular features is the ability to mimic the trading strategies of other users. The company has over 32 million registered users across Europe, Asia, and the United States.
The partnership with eToro marks a significant moment in the intersection of finance and social media, particularly as "Fintwit" or financial twitter has become a popular trend on the app. The partnership with eToro will allow users to have access to high-quality content, real-time content on financial analysis of companies, and what's happening around the world.
Musk's vision of turning Twitter into the "everything app" is gaining momentum with the eToro partnership, as the concept has proven wildly popular in East Asia. Tencent, a Chinese internet giant, offers payments through its WeChat messaging app, and Musk has made it his mission to turn Twitter into a similar type of app. In fact, Musk has even changed the corporate name of Twitter to X Corp after merging with a shell company with that name.
This partnership is just the beginning of Twitter's move into the world of finance, and it will be exciting to see how the platform evolves to cater to its growing audience interested in the world of finance.
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