eToro Turned $50K Into $50M With Early Bitcoin Bet, CEO Reveals

eToro CEO Yoni Assia recently revealed in a CNBC interview that the company bought Bitcoin for its treasury when the price was just $5. With an initial outlay of $50,000, the trading platform made $50 million in profits from the cryptocurrency.

Assia said the board later directed the company to sell its Bitcoin holdings since crypto was not considered part of its main business focus. Though eToro has shifted more toward traditional markets, with 75% of its revenue now tied to stocks, it still supports more than 130 cryptocurrencies on its platform.

eToro’s Presence in the Crypto Space

Reflecting on the industry’s progress, the CEO described the evolution of crypto as a remarkable journey. He noted that global perception has shifted significantly, with widespread recognition of crypto as a permanent and expanding financial market.

Despite this progress, Assia revealed that legendary investor Warren Buffett played a role in steering eToro’s focus more toward stocks. Known for his long-standing criticism of Bitcoin, Buffett once labeled it “rat poison squared” in 2018.

Even with that influence, crypto still contributes around 25% of eToro’s revenue. The company, which began in 2007 as a visual foreign exchange platform, introduced crypto trading to retail users in 2013, long before digital assets gained mainstream attention.

eToro Expands Crypto Trading Services

Over the years, eToro has steadily expanded its crypto services. In September 2024, the company began offering crypto trading to users in Germany with the introduction of spot trading.

According to a CoinTab report, the brokerage teamed up with DLT Finance for spot trading and Tangany for custody services. Both companies are regulated under the German Federal Financial Supervisory Authority (BaFin).

Building on that momentum, the platform completed its U.S. public listing on the Nasdaq exchange earlier this month, marking the end of an 18-year journey. Assia said the company waited until it reached sustainable profitability before going public, abandoning a planned SPAC merger in 2021.

Now a Nasdaq-listed firm, eToro joins other trading platforms that began with a focus on crypto. Over time, these platforms have expanded into broader financial services while maintaining strong ties to the digital asset sector.

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