eToro, with over 130 crypto assets and a $5.5 billion valuation, is asserting itself as a frontrunner in digital assets, targeting the massive wealth transition from Gen Z estimated at $140 trillion.
eToro's foray into crypto started with a bold move in the early 2010s, purchasing Bitcoin at just $5 per coin, resulting in substantial profits when Bitcoin surged to $50,000.
Despite the significant gains, eToro's board, initially hesitant about the crypto venture as it was not part of the core business, decided to sell the Bitcoin at $50 million, showcasing caution even in the face of remarkable growth.
eToro's CEO humorously hinted at possibly dismissing the board members who were cautious about the investment, reflecting on the journey from a $5 Bitcoin bet to a $50 million windfall.