CEO Explains Why Bitcoin Is Digital Gold | Yoni Assia

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**Yoni Assia** (1:00)
And Bitcoin is replacing, that is a digital fork. My view is we're right now at the 99% probability that Bitcoin is digital gold. It represents basically the same thing that gold did to the economy and the world for the last 5,000 years, to the digital world and potentially to us also to the economy and Mars. It's going to be very hard to send gold there.

**Anthony Pompliano** (1:24)
What's going on guys? Today, we got a great conversation with Yoni Assia. He is the CEO and co-founder of eToro, and these guys are coming to the United States. In this, we talk about agentic trading, what's going on with AI on the platform, how they're thinking about various trading tools, what's going on with tokenization, public equities, and why is the company trading for less than 10 times their actual EBITDA? There's a lot going on in this conversation. Yoni has been involved in both investing and in crypto for a very, very long time. I always enjoy talking to him and I think you should enjoy this one. So here's probably this conversation with Yoni.
All right, Yoni, agentic trading seems to be all the rage. When is AI going to be able to just take my portfolio and go to town and make me money so I can go sit on a beach somewhere?

**Yoni Assia** (2:03)
Well, it can do it today. The question is, how much do you trust it and how good are you at steering it for it to actually make money the way you want to make money versus potentially losing money because you gave it the wrong instructions?

**Anthony Pompliano** (2:19)
Do you guys do this on eToro today?

**Yoni Assia** (2:20)
So we do this in eToro today. We're already seeing, so we actually, we launched the APIs and the MCP, which enables AI to basically take over your account and do exactly that. We can basically go to your Claude or your Grok and say, just XYZ do this in my account. What we saw is a lot of people were very concerned about connecting it to their main account. So about two months ago, we launched agent portfolios, which basically create a sub-portfolio on your account. So if you have $100,000 with us, you can tell basically either Tori, our own AI agent, or now an official Grok connector or Claude, take $1,000 out of my account. These $1,000 now connect them to a strategy that does semiconductor, investing based on fundamentals, rebalance every day.
So we see these strategies in a lot of different strategies. And then we started significantly seeing a higher pick up rate of actual users creating sub accounts to connect their AI. By the way, I felt the same, right? I have a big account in Nitoro, and I was like, do I feel comfortable enough to connect a third-party AI?
I just heard a funny story later on, about somebody who was cursing the AI, and then Claude basically closed all of his positions because he was misbehaving with the AI. Really?

**Anthony Pompliano** (3:48)
So somebody had an account, Claude was hooked up to trade, and the person started basically talking shit to Claude, and Claude, as retribution, shut all the positions?

**Yoni Assia** (3:57)
Yeah, that's what I heard.
Wasn't on the Nitoro platform. Wow.

**Anthony Pompliano** (4:03)
I mean, that's pretty crazy, right?

**Yoni Assia** (4:05)
And he was like disconnected everything. He's like, what did you do?

**Anthony Pompliano** (4:09)
Oh my God. I mean, does that worry you?

**Yoni Assia** (4:12)
I think that's the reason we created the agent portfolios.
I think generally, by the way, the last nine months since we've met, and the last interview was a year ago, now you're public as well. Welcome to, welcome.