Amid regulatory clarity, prominent social media platforms such as Meta are actively investigating opportunities for crypto advertising.
Prominent technology companies have begun to enter the cryptocurrency market, as evidenced by the substantial inflows into well-regulated products such as Bitcoin ETFs over the past two weeks. With the launch of Bitcoin ETF advertisements on Google Search and YouTube earlier this week, additional participants such as Meta will likely follow suit soon.
Imminent Launch of Bitcoin ETF Ads
Nate Geraci, the President of ETF Store, has noted that Facebook and Instagram may allow advertisements for spotting Bitcoin exchange-traded funds (ETFs) shortly.
Geraci’s observation suggests a possible alteration in the advertising policies of widely used social media platforms, suggesting that there is anticipation that they might soon permit advertisements about spot Bitcoin ETFs.
Geraci suggests that by characterizing Facebook as a prospective “boomer honeypot,” the social media behemoth’s user population, which comprises a substantial proportion of elderly individuals, might be instrumental in expanding the exposure of Bitcoin ETF advertisements.
With the ongoing convergence of the cryptocurrency and ETF sectors, the potential adoption of Bitcoin ETF advertisements by prominent social media platforms may represent a momentous advancement for the cryptocurrency industry.
Furthermore, it may be worthwhile to introduce Bitcoin ETF advertisements on Facebook and Instagram, as these platforms have substantial millennial and Gen Z user bases that are more informed about the cryptocurrency world. Nevertheless, not all individuals are willing to provide cryptocurrency advertisements as an illustration.
META Stock Plummets 20%, AI Competition Intensifies
Facebook parent company Meta is experiencing a resurgence, as evidenced by the 20% surge in Meta’s (NASDAQ: META) stock price on Friday, February 2, following the announcement of the company’s initial dividend payment.
In addition to allocating $50 billion for share repurchases, the organization has declared a 50-cent quarterly dividend per share. This occurs against the backdrop of powerful returns on investments in emerging technologies, such as the “metaverse,” and robust results.
This increase will undoubtedly inspire investor confidence in Meta, which has been experiencing difficulties recently. but, the company’s reorganization efforts have been successful.
Due to the company’s emphasis on cost reduction throughout the previous year, Meta has lost more than 21,000 employees since late 2022. Mark Zuckerberg, CEO of the organization, has dubbed 2023 the “Year of Efficiency.”
Intriguingly, Meta will compete in the AI market with tech titans such as Alphabet and Microsoft. The company has showcased AI advancements by introducing the Llama 2 model; the forthcoming Llama 3 indicates a sustained commitment to innovation in this domain.
