The post eToro CEO Reveals $5 Bitcoin Buy and $50M Exit – Here’s the Wild Story appeared first on Coinpedia Fintech NewseToros Yoni Assia Joins Squawk Box to unpack the firms Nasdaq IPO, $50M Bitcoin bet, and fintech future. With 130+ crypto assets and a $5.5B valuation, eToro eyes Gen Zs $140T wealth shift, leaving behind rivals like Robinhood. Imagine this: buying Bitcoin at $5 and flipping it for a $50 million profit. Thats the daring …

eToro CEO Reveals $5 Bitcoin Buy and $50M Exit Heres the Wild Story

The post eToro CEO Reveals $5 Bitcoin Buy and $50M Exit Heres the Wild Story appeared first on Coinpedia Fintech News

eToros Yoni Assia Joins Squawk Box to unpack the firms Nasdaq IPO, $50M Bitcoin bet, and fintech future. With 130+ crypto assets and a $5.5B valuation, eToro eyes Gen Zs $140T wealth shift, leaving behind rivals like Robinhood.

Imagine this: buying Bitcoin at $5 and flipping it for a $50 million profit. Thats the daring move eToro, led by CEO Yoni Assia, pulled off in the early 2010s, well before crypto fever grabbed the world. 

In a recent CNBC interview, Assia spilled the details on eToros early gamble, a story of foresight, fortune, and a boardroom decision that still stings.

Bitcoin is Not Our Business, eToro Board

eToro dove into crypto when it was an unknown territory. We were very early, Assia said, recalling how the companys treasury snagged Bitcoin at $5, only to watch it rocket to $50,000. 

The board, wary of straying from eToros core, forced a sale at $50 million as they cleared that Bitcoin is not their business area. Assia, with a sneaky grin, hinted he mightve fired those cautious board members.

eToros Nasdaq Sees $192M Profit, Crypto Fuels 25% of Trades

This week, eToro hit a major milestone, listing on Nasdaq after shelving a 2021 SPAC plan. Patience paid off: 2024 saw $192 million in net income, with crypto driving $12 million. Crypto trading now fuels 25% of eToros business, up 10% from last year, with over 130 digital assets offered globally.

Vitaliks eToro Connection

eToros crypto cred runs deeper. Ethereums Vitalik Buterin once worked from their offices before launching his blockchain revolution, a nod to eToros early clout. This only highlights how early eToro was in crypto before the big fintech firms roped in.

It felt like eToro entered Bitcoin in its early stage, only to fumble it. However, it could not be part of their core investment strategy.

Cryptos Lasting Impact

Assia remains steadfast: Crypto is here to stay. While stocks now drive 75% of revenue, and keep a quarter for digital currency trading. From a $5 Bitcoin bet to Nasdaqs bright lights, eToros journey reflects cryptos meteoric rise, and its story is far from over.

In a Nutshell

Yoni Assians eToro bought Bitcoin for $5 in its initial days, only to sell it at $50,000. Well, the board members, specially eToro may still feel like it was a bad move and should have HODL.

Nevertheless, with some top crypto leaders like Changpeng Zhao seeing Bitcoin cross $1M in the coming years, will Yonis eToro consider making a fresh start?