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EToro, Who To Go Public, Bought Bitcoin For As Low As $5 In 2011
Summary: The trading platform eToro plans to go public through a merger with the special purpose acquisition company (SPAC) of FinTech Acquisition Corp. V under Betsy Cohen, as first reported by Bloomberg. The combined company will be valued at approximately $10 billion. People familiar with the matter revealed that the two companies are raising approximately $650 ...
The trading platform eToro plans to go public through a merger with the special purpose acquisition company (SPAC) of FinTech Acquisition Corp. V under Betsy Cohen, as first reported by Bloomberg.
The combined company will be valued at approximately $10 billion. People familiar with the matter revealed that the two companies are raising approximately $650 million in equity to support the merge.
EToro allocated Bitcoin to its treasury as early as ten years ago. Yoni Assia, CEO of the firm, revealed at the investor meeting: "We bought some crypto for our treasury 10 years before Elon Musk for between $5 and $20 back in 2011. Unfortunately, we only bought about $50,000 back then. But that enabled us to become the first regulated brokerage in Europe to offer cryptocurrency trading back in 2013."
According to Coindesk, eToro's revenue increased by 147% year-on-year, of which crypto trading business accounted for 16% of revenue. In January 2021, the number of newly registered users on the platform reached 1.2 million, while the average monthly increase in 2020 was only 440,000, and 192,000 in 2019.
By Mary Liu
Tags: Bitcoin,Cryptocurrency,etoro,Go Public,SPAC,Yoni Assia
Link: EToro, Who To Go Public, Bought Bitcoin For As Low As $5 In 2011 [Copy]
