How eToro’s $5 Bitcoin Buy Became a $50M Sale – And Why CEO Yoni Assia Still Regrets It

BITCOIN (BTC)

Imagine buying Bitcoin at $5 and selling it for a staggering $50 million. That’s precisely the wild tale eToro CEO Yoni Assia revealed during a recent CNBC interview, shedding light on one of the most lucrative yet stinging exits in the company’s history.

Back in the early 2010s, before the world caught crypto fever, eToro’s treasury took a bold step, purchasing Bitcoin at just $5 per coin. Fast forward a few years, and the price skyrocketed to $50,000. Despite the meteoric rise, eToro’s board decided to cash out when the holdings hit $50 million, convinced that Bitcoin wasn’t aligned with the platform’s core business.

“That decision still stings,” Assia admitted, hinting he might have ‘fired’ some of those conservative board membeIrs. While eToro missed out on the even higher gains that Bitcoin would later deliver, the firm hasn’t entirely stepped away from crypto.

In 2024, eToro finally made its Nasdaq debut after shelving a 2021 SPAC plan. The timing couldn’t have been better. The company posted a net profit of $192 million, with crypto trading contributing $12 million — 25% of overall trades, up 10% from the previous year. With over 130 digital assets available, eToro is positioning itself to capture Gen Z’s estimated $140 trillion wealth shift.

Notably, Ethereum’s co-founder Vitalik Buterin once worked out of eToro’s offices, adding a layer of crypto cred to the firm’s history. Assia emphasized that despite the board’s early sell-off, eToro is still deeply invested in the future of digital assets.

Also Read: eToro Rallies Nearly 30% on Nasdaq Debut – What’s Driving the Stock?

“Crypto is here to stay,” he asserted, even as the company continues to balance its focus between traditional stocks and the booming digital asset market.

In retrospect, eToro’s $50 million Bitcoin exit may seem premature, especially as industry heavyweights like Binance’s Changpeng Zhao predict Bitcoin could hit $1 million. The big question now is whether eToro will consider another high-stakes crypto bet — or if it will continue to play it safe as the digital asset landscape evolves.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.