Here’s Why Twitter is the Ultimate Buy Now Cryptocurrency Stock
Twitter (NYSE: TWTR) stocks have climbed over 55% and more in the past year. Of course, the iconic platform is best known as the microblogging social network. But it is rapidly evolving into something that is potentially even more influential and lucrative with the rise of cryptocurrencies.
In July, chief executive Jack Dorsey said that Bitcoin would become a “big part” of Twitter through integration with the company’s products and services. But little known to investors, Twitter has already seen a huge increase in results due to the influx of cryptocurrency developers. So let’s see why now is the time to get all-in on stock.
An invaluable role
Unlike stocks, there is no centralized Securities and Exchange Commission (SEC) database (called EDGAR) where investors can get the latest financial information and updates on important events for crypto. currencies – so far. Twitter is quickly starting to act as a âdecentralized SECâ for the crypto community. Users can follow the developer teams on Twitter, getting the latest information on important protocol changes, new partnerships, and important events (the equivalent of 8-K at the SEC), as well as regular financial reports ( 10-Q and 10- Ks). Additionally, individuals can report cryptocurrency tweets considered to be scams or pump-and-dump schemes, leading to a prototype of self-regulation, a common practice in the stock markets.
As a result, the platform is becoming extremely popular among altcoins networks such as Ethereum, avalanche, Solana, Reserve the rights, Chain link, Monero, and PirateChain, among others. The setup has attracted hundreds of thousands, if not millions of users who want to keep abreast of the development of their latest tokens. In addition, developers can also promote their accounts through ad spend, which allows Twitter to earn more money. The best part is that the traffic is organic; Twitter doesn’t need to spend money on marketing itself to keep the cryptocurrency syndicate user flow. Then there are celebrities like You’re hereCEO of Elon Musk, who repeatedly uses the platform to tout digital currencies such as Dogecoin to its fans, generating substantial viewing activity.
In the second quarter of the year, Twitter increased its monetizable daily active user base by 10.8% year-on-year to 206 million. At the same time, revenue increased 74% to $ 1.19 billion. The company’s profits have recouped their losses from the pandemic recession – they more than doubled in the quarter ended June 30 – and are on track for meteoric growth. Twitter is also doing well in terms of liquidity, with liquidity and investments doubling its debt and convertible notes by a factor of two. Overall, this is both a great tech and crypto stock to buy at 10x income. Expect to see sustained profits and share gains as the cryptocurrency booms.
This article represents the opinion of the author, who may disagree with the âofficialâ recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.