Big tech titans have already started warming up to the crypto market with well-regulated products like Bitcoin ETFs seeing strong inflows over the last 20 days. With the Bitcoin ETF ads going live earlier this week on Google Search and YouTube, other players like Meta are likely to join the bandwagon soon.
Introducing Bitcoin ETF Ads Soon
In a notable observation, Nate Geraci, President of ETF Store, has suggested that Facebook and Instagram might soon permit the display of advertisements for spot Bitcoin Exchange-Traded Funds (ETFs).
Geraci’s insight hints at a potential shift in advertising policies on popular social media platforms, with expectations that they may open up to advertisements related to spot Bitcoin ETFs in the near future.
Referring to Facebook as a potential “boomer honeypot,” Geraci implies that the social media giant’s user base, which includes a significant demographic of older individuals, could play a crucial role in broadening the reach of Bitcoin ETF ads.
As the cryptocurrency and ETF landscapes continue to intersect, the prospect of major social media platforms embracing Bitcoin ETF advertisements could mark a significant development for the crypto industry.
Furthermore, launching Bitcoin ETF ads on FB and Instagram could be interesting since these platforms have a large user base of millennials and GenZ, who are more attuned to the crypto world. However, not everyone is willing to offer crypto ads. For e.g.
META Stock Shoots 20%, Intensifies AI Race
Facebook parent Meta seems to be a turnaround story as the Meta (NASDAQ: META) stock price surged a staggering 20% on Friday, February 2, after the company’s first dividend payout declaration. The company has authorized $50 billion for share buybacks and declared a quarterly dividend of 50 cents per share.
This comes on the backdrop of robust results as well as strong returns from its investments in emerging technologies like “metaverse”. this boost is certainly going to boost investor confidence in Meta which has been struggling for a while. However, the company’s restructuring plans seem to have paid off well.
Meta has focused on cost reduction over the past year, resulting in the departure of over 21,000 employees since late 2022. Company chief Mark Zuckerberg has referred to 2023 as the “Year of Efficiency.”
Interestingly, Meta will also be competing with big tech giants like Microsoft and Alphabet in the AI space. The company has demonstrated advancements in AI with the launch of the Llama 2 model, and the upcoming Llama 3 suggests ongoing innovation in this field.
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