Recent time Interview Etoro CEO Yoni Assia has revealed that along with CNBC they have begun buying Bitcoin for the Treasury when the original cryptocurrency was trading for just $5.
The Israeli trade and investment company generated a whopping $50 million in Bitcoin profits with an initial investment of just $50,000.
Assia said the board ultimately told him to sell BTC Holdings.
He also recalled that Ethereum co-founder Vitalik Buterin visited the company’s office, even before the launch of major Altcoin.
Assia claims it was a “surprising experience” seeing the surge in codes from where it is today.
“There is no doubt that Crypto will remain here: it is a new type of capital market thriving around the world.
That being said, Etoro’s CEO revealed that legendary investor Warren Buffett had convinced him to concentrate more on stocks instead of crypto at dinner. Buffett, who recently announced he has stepped down as CEO of conglomerate Berkshire Hathaway, is of course known as one of the most vocal bitcoin skeptics, famously denounced cryptocurrency in 2018 as “Rat Poison Square.”
According to Assia, Crypto accounts for only a quarter of the company’s total revenue.
Released in 2007, Etoro originally began operating the Visual FX platform.
It appeared in the spotlight earlier this month after being released in the US on Nasdaq Exchange.
The company began offering cryptocurrency trading to retail clients in 2013 (when it was still a relatively niche area). Etoro is gradually expanding its crypto products. In September 2024, we launched crypto trading for our German clients.
