Musk makes Bitcoin accessible to 370 million users

Is this the breakthrough for mass adoption? Twitter users can now invest in stocks, ETFs and cryptocurrencies. Not via the social media platform itself, but via the broker eToro. Both companies announced the partnership in a joint press release. CNBC reported in advance about the cooperation.

At the center of the cooperation are the cash tags from Twitter. The San Francisco-based company introduced the feature at the end of last year, back then as an additional filter function for search queries. The partnership extends this feature. Users can now get real-time quotes for stocks, cryptocurrencies, and ETFs by putting a $ sign in front of the asset. A button takes the user to the eToro broker platform, where they can trade at the end. In the next few days, all functions for the cash tags will be rolled out, an eToro spokesman explains to BTC-ECHO. Only the final confirmation from Twitter is missing.

Meanwhile, the search function is becoming increasingly popular among Twitter users. According to the press release, the platform records an average of 4.7 million searches via the cash tags per day.

Elon Musk is rebuilding Twitter

In general, the partnership fits into Elon Musk’s restructuring plans. The multi-billionaire wants to make Twitter a “super app,” an application that encompasses a wide range of services and works more profit-oriented. To this end, Musk has already implemented several measures such as paid verification of accounts and dismissed masses of staff. From the former 8,000 employees, only 1,500 are still employed at Twitter.

The deal with eToro should continue to bring money into the coffers. Both companies are silent about the financial modalities. However, it would be conceivable that Twitter would receive a commission for every successful trade on eToro.

Twitter: Elon Musk gives 370 million users a taste for crypto

Twitter: Elon Musk lets users buy crypto and stocks

And the crypto space should also capitalize on the partnership. After all, 360 million users are offered cryptocurrencies in one fell swoop. The adoption of Bitcoin and Co. by the mainstream could increase suddenly.