Warren Buffett has a surprising advice for eToro’s CEO

Anand Sinha

Thu, May 15, 2025, 3:23 PM 2 min read

Legendary billionaire capitalist Warren Buffett, who precocious stepped down as Berkshire Hathaway CEO aft 60 years of service, is well-known for influencing a procreation of entrepreneurs specified arsenic Microsoft laminitis Bill Gates and Pershing Square laminitis Bill Ackman.

Often referred to arsenic the "Oracle of Omaha,” Buffett's sage proposal is paid heed to by the younger generations of CEOs arsenic well.

Yoni Assia, laminitis and CEO of the Israel-based trading and concern steadfast eToro (Nasdaq: ETOR), precocious revealed that it was Berkshire Hathaway founder who "actually convinced" him to absorption much connected stocks and little connected crypto.

Assia made the revelation while speaking connected CNBC's ‘Squawk Box’ connected May 15, a time aft eToro made its Nasdaq debut.

Buffett's dislike of crypto is nationalist knowledge, arsenic helium erstwhile referred to Bitcoin arsenic “probably rat poison squared” and different clip called it a “gambling token.” Understandably, Berkshire Hathaway has ne'er invested successful crypto.

During the interview, the eToro CEO said that the steadfast was precise aboriginal to crypto. In fact, it was the archetypal regulated institution successful Europe to motorboat crypto trading, helium said.

Assia besides reflected connected the determination to propulsion backmost from the program to spell nationalist successful 2011 and said it was a lesson, arsenic helium learned that it was important for a institution to go profitable earlier going public. It was truthful the close determination to hold longer successful bid to go profitable to spell nationalist now, helium added.

"Nobody doubts that crypto is present to stay," Assia underlined. He further claimed that portion crypto accounted for 25% of the company's gross past year, stocks accounted for 75% of the revenue.

ETOR made its Nasdaq debut on May 14 with the IPO terms of $52 a stock but opened at $69.69 earlier surging to $74.28.

The banal was trading astatine $64.40 astatine the clip of writing, down 3.83% since the past day's close.