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eToro Buys Portfolio Management Startup Bullsheet

eToro is making headlines following their latest move. Check out the new reports involving the exchange below.

eToro buys management startup Bullsheet

Stocks and crypto investment platform eToro today announced the acquisition of Bullsheet. This is a portfolio management startup.

The exact terms of the acquisition were not disclosed, but a person close to the deal said it was worth a few million euros, according to new reports coming from The Block.

Founded by Portuguese cousins Filipe Sommer and João Ramalho Carlos, Bullsheet is a portfolio management tool that gives users of eToro’s investment platform a way to analyze their portfolios.

Here’s what the same online publication mentioned above notes:

“The cousins became eToro customers in 2020 and developed a following on the platform — drawing on social features that allow prominent investors to share tips, and even to have their trades mirrored by fellow users.”

“It’s the wisdom of the crowd in action,” said Yoni Assia, eToro’s co-founder, and CEO, in a statement.

Assia continued and stated the following:

“We believe there is a power in shared knowledge and that by transforming investing into a group effort, we yield better results and become more successful together. João and Filipe share this ethos.”

Crypto market today

It seems that the crypto market is making efforts to recover following the recent price losses.

A popular crypto trader says Bitcoin (BTC) has hit its bottom and the beginning of a bull run is now imminent.

The pseudonymous trader known as Kaleo said that the opportunity to purchase Bitcoin under $20,000 won’t last long.

“Every day Bitcoin is under $20,000 is a gift. That being said, three-plus months of Christmas feels like more than enough. Send it with haste.”

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $20,732.

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