- eToro listed Dogecoin in May sending the crypto surging to a new ATH.
- CEO Yoni Assia attributed the listing to the crypto’s strong fanbase.
- eToro is going public later this year through a $10.4 billion merger.
eToro CEO Yoni Assia recently revealed that the popular mobile trading platform added Dogecoin thanks to its fanbase. Assia noted that “a strong community is a very strong part of every cryptocurrency.”
Assia made the comments in an interview with Business Insider. The CEO also revealed that initially, eToro did not take DOGE seriously as it is only a meme crypto. However, in his words,
“When one member of that (DOGE) community is worth $180 billion, that really changes the dynamics.”
In fact, Assia revealed that Elon Musk’s support of Dogecoin also played a part in the listing. The billionaire has often sent the meme crypto soaring after posts on Twitter. Similarly, the listing onto eToro sent DOGE surging to a new all-time high earlier this month (May).
Musk has even spoken about taking DOGE to the moon in one of SpaceX rockets, much to the glee of DOGE fans. Also, Musk revealed that he is working with the DOGE development team to improve the crypto’s transactions. In a move some observers see as a step towards adding DOGE as a payment option for Tesla to replace Bitcoin.
However, DOGE supporters are prone to show enthusiastic support for any developments around the crypto. As such, Assia referred to the DOGE community as “one of the largest, loudest and funniest communities in the cryptocurrency industry.”
Nonetheless, noting the nature of crypto and DOGE, in particular, Assia mentioned the importance of investors practicing caution and risk management.
In addition, Assia spoke about the upcoming eToro public listing. The listing will be later this year through a $10.4 billion merger with SPAC.