Could Twitter’s Stock Be Better If Pro-Bitcoin Supporter Jack Dorsey Allowed More Crypto Ads?
No one could deny that Twitter is behind Facebook in many aspects, some of them financial ones. Now that Facebook has started to allow cryptocurrency-related advertising, Twitter should do the same. Why? For starters, because they seem to be losing a popular niche.
Jack Dorsey is a big fan of Bitcoin, too, so it doesn’t really make a lot of sense not to allow this kind of ad on the network. For some unknown reason, his social media company is still not allowing crypto ads.
Last year, Twitter implemented a ban on crypto ads and it has not been lifted ever since then. This means that you cannot propose any ad for token sales and Initial Coin Offerings (ICOs) and you have severe restrictions on posting for wallets and exchanges.
Should Twitter Revise Its Rules?
While Twitter is up there with the FANG (Facebook, Amazon, Netflix and Google’s parent Alphabet) stocks, it does not generate so much profit as Facebook, for instance. Twitter saw 35% gains year-to-date while Facebook was able to offer 40%.
One of the main differences here is that while Dorsey is somewhat of a Bitcoin enthusiast, it’s pretty much just that. He likes cryptos and that’s it. Facebook, however, is already creating its own Facebook Coin, so, as BTC is now starting to enter a bull market, the company thought it was the best idea to capitalize on that and also raise crypto awareness for its own launch.
This, however, means that money spent on crypto advertising will mostly go to Facebook instead of going to Twitter. Jack Dorsey seems to be missing a great chance to make some important money right now as there are several investors which are eager to have an opportunity to invest.
Even people outside of the hardcore crypto sector could be hyped by the new ads, so they are definitely not a bad idea to have right now. Unfortunately, we do not have any kind of indication beyond simple logic that Twitter is actually going to let crypto ads flow its company with money.
Bitcoin is sure to go up soon and people are going to use Twitter a lot in 2020 as the presidential campaign draws near. If you want to know what your candidate is saying in real time, Twitter is the site to go, not Facebook.
If Dorsey decides to open the gates for crypto ads, though, it will be certainly great. What will it take? We don’t know. Maybe something like a Twitter Coin or something or maybe they will wait until Bitcoin is so mainstream that they simply cannot choose to ignore it. There are several things that could happen soon.