CEO Explains Why Bitcoin Is Digital Gold | Yoni Assia

— Agentic trading and AI agents are live on eToro today; users can create sub-portfolios controlled by AI (Tori, Grok, Claude) rather than risking their main account, reducing adoption barriers as AI tools mature.

— Tokenization is moving from hype to early adoption, with perpetual futures on crypto platforms now pricing real-world assets (SpaceX IPO, gold, oil) before and after traditional market opens, effectively driving capital market pricing 24-7.

— Bitcoin remains the core cyberpunk narrative as digital gold—replacing the 5,000-year role of physical gold in value settlement and communication—while blockchain infrastructure enables 24-7 markets and lower settlement friction across finance.

— eToro acquired TradeZero to fill gaps in the U.S. product, adding active trader tools (short selling, options, futures, prediction markets) and desktop-first experience alongside eToro's mobile-first approach.

— eToro's financial super-app strategy combines trading, savings, payroll integration, and AI-driven collective intelligence, where retail investors access strategies from global pro investors (6,000+ tracked, top performers generating 90%+ annual returns).

— Tori (AI agent) now integrates Grok 4.6 with real-time market analysis, portfolio memory, MCP tools, and can autonomously manage sub-accounts and create strategies within the app, positioning AI as a 24-7 risk manager and portfolio helper.

— Perpetual futures on SpaceX pre-IPO and post-IPO now price the asset 24-7 on crypto exchanges, converging with traditional equity markets and reflecting capital market migration on-chain.

— eToro generates ~$1 billion in LTM revenue and >$350 million in EBITDA but trades below 10x EBITDA multiple; market discounts non-U.S. revenue, expects U.S. execution proof, and factors in historical volatility common to retail brokers (Robinhood, Coinbase also traded down post-IPO before recovering).

— Use sub-portfolio agents cautiously: AI trading can generate outsized returns but also rapid losses; sub-accounts limit downside exposure while you learn how to steer AI-driven strategies effectively.

— Monitor tokenization of equities and real-world assets: DTCC self-clearing brokerages enabling on-chain equity settlement by year-end could unlock $100 trillion in capital migration; early platforms like eToro and Figure are positioning for this shift.

— Tap collective intelligence in trading: Access to verified track records of global pro investors (especially sector experts and domain specialists) and their AI-augmented strategies may outperform solo analysis; negative bias (studying consistent losers) provides equally strong signals.