As more and more people across the world are embracing digital assets with open arms every day, the belief shared recently by eToro doesn’t come as a surprise. According to eToro, out of the 150 trillion dollars of assets present around the globe, 66% could be converted to digital assets. This proclamation was made by the eToro founder recently during the podcast interview.
Going by the way the digital economy is experiencing widespread adoption, it might become a reality as well in the future. For those who are new to the crypto world, eToro is a prominent company active in the space of social trading as well as multi-asset brokerage. Having registered offices in the United Kingdom, Israel, and Cyprus, eToro is renowned globally for offering its popular copy trading services. The company was founded in 2006 and had Yoni Assia as its CEO.
The primary reason for establishing the entity was to allow people to easily purchase and sell financial assets, such as currencies and shares. For that, Yoni, along with his brother, came up with eToro, the ‘social market,’ as they like to refer to their company.
How eToro works?
With eToro, it becomes possible for someone based in, say, Hong Kong to easily search an investor, say in Germany, who trades with the local companies (buying and selling the entities). He then goes onto invest in these very entities and the exact proportion. This procedure is referred to as copy trading or mirror trading, which has been around for years now. The earning in this entire activity by the trade strategy initiator is in the form of a percent of either the created brokerage or the profit.
eToro has captured the market
Ever since its establishment, eToro has been consistently growing as a company. While it expanded by 600% from 2015 to 2016, it further grew by 400% in the time period of 2017-2018. As per the CEO’s revelation, eToro has a huge clientele of more than 10 million now who has made asset trades worth more than 1 trillion dollars back in 2018. Assia, in the interview, also said how he truly believes that smart contracts are capable of disrupting the entirely legal system.
Moreover, the company has facilitated bitcoin trades for 5+ years. Interestingly, eToro even experienced a major sign-up spree at one point where it acquired 20 thousand+ new clients in just one day.
Considering the strong standing eToro has acquired in the digital and conventional markets, the declaration made by the CEO about 66% global assets like equities and bonds turning digitized certainly makes sense.
Cryptoassets are highly volatile unregulated investment product. No EU investor protection.
This content is intended for informational and educational purposes only and should not be considered investment advice or an investment recommendation.