The synergies present in the partnership demonstrate how integrations can bring bitcoin investing to entirely new audiences.
Through a partnership with exchange eToro, Twitter recently added the ability for users to invest into assets with $Cashtags, which also expanded the number of financial assets that users can see real-time prices for when using the feature. The partnership covered $Cashtags representing a wide range of instruments on the eToro platform, including bitcoin. Users can now click through to the eToro platform to see more information on the asset and have the option to invest. The $Cashtags feature has seen widespread adoption with reportedly more than 420 million searches for $Cashtags since the start of the year. $BTC (bitcoin) ranked in the top five most-searched for $Cashtags.
In an interview with a spokesperson for eToro, 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 futures by increasing engagement with and the accessibility of financial news and education.”
“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,” the individual speaking on behalf of the company said.
Keeping in mind the goal of providing access to financial information and education, “we hope we’re able to introduce investors to new and/or different tactics to diversify their portfolios,” the spokesperson explained.
According to eToro’s spokesperson, Twitter users have a young demographic, who typically have a longer investing timeline, similar to the user makeup of eToro’s platform.
When asked about further integration with Twitter and bitcoin acceptance for Twitter Blue, eToro’s spokesperson did not provide any specifics but mentioned 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 introduce 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.
eToro’s spokesperson said that the company believes that the future of investing is social investing and fostering dialogue in large networks, and that the inherent short form and ease of messaging on Twitter appeals to today’s investor. “Twitter is a space for conversation, where networking and interesting financial dialogue take place, eToro is a financial services provider built on the belief that social investing is the part of the future and that we can all do better by investing together and fostering dialogue in large networks,” they reiterated.