The synergies found in the partnership illustrate how the integrations can bring bitcoin investing to entirely new audiences.
Through a partnership with Exchange eToro, Twitter recently added the ability for users to invest in assets using $Cashtags, which also increased the number of financial assets users can see real-time prices for when using the feature. The partnership covered $Cashtags which represent a wide range of instruments on the eToro platform, including Bitcoin. Users can now click into the eToro platform to see more information about the asset and have the option to invest. $Cashtags has seen wide adoption with over 420 million searches for $Cashtags since the beginning of the year. $BTC (bitcoin) ranked in the top five most searched for $Cashtags.
In an interview with an eToro spokesperson, when asked about the vision and goal behind this partnership, they stated that “the goal of the partnership is to help people feel comfortable taking ownership of their financial future by increasing participation and access to financial news and education.”
“Twitter has become an important part of the retail investment community — where millions of ordinary investors go every day to access financial news, share knowledge, and speak up,” said the person speaking on behalf of the company.
With the goal of providing access to financial information and education in mind, the company spokesperson explained, “We hope to be able to introduce investors to new and/or different approaches to diversify their portfolios.”
According to an eToro spokesperson, Twitter users have a younger demographic, and typically have a longer investment timeline, similar to the user makeup of the eToro platform.
When asked about further integration with Twitter and Bitcoin acceptance of Twitter Blue, an eToro spokesperson did not provide any details but stated that they are always looking for ways to innovate and develop new products and partnerships. They confirmed that in partnership with Twitter, they hope to offer more educational resources about Bitcoin and other financial assets to their users through this partnership, but for now, eToro is focused on making the $Cashtags partnership a success.
An eToro spokesperson said the company believes the future of investing is social investing and fostering dialogue in large networks, and that Twitter’s inherent short format and ease of messaging appeals to today’s investor. “Twitter is a space for conversation, where networking and interesting financial dialogue takes place, eToro is a financial services provider built on the belief that social investing is part of the future and that we can all do better by investing together and fostering dialogue in and repeat.”