eToro Plans Zengo Acquisition to Boost Self-Custody Capabilities as CEO Eyes $250K BTC Price
Trading platform eToro announces plans to acquire Zengo, a provider of self-custodial wallets, while its CEO forecasts Bitcoin could surge past $250,000 following an additional quarter of bearish crypto market conditions.
On Wednesday, eToro announced it has reached an agreement to acquire Zengo, a self-custodial cryptocurrency wallet provider, marking a significant expansion in the trading platform's strategic move toward onchain products as digital currencies continue to play a pivotal role in its overall business operations.
Through this acquisition, eToro aims to integrate Zengo's advanced wallet technology while expanding its service portfolio across multiple sectors including tokenized assets, prediction markets, perpetual contracts, and yield-generating products, the company stated. Financial details of the transaction were not made public. According to Bloomberg's reporting, which cited an individual with knowledge of the deal, the acquisition carries an approximate value of $70 million, with the majority being paid in cash.
During a fireside chat at Paris Blockchain Week, CEO Yoni Assia explained that acquiring Zengo aligns with eToro's strategic objective to draw in a more crypto-savvy user demographic while simultaneously extending its reach beyond traditional regulated brokerage offerings into self-custody infrastructure solutions.
Cryptocurrency-related activities have emerged as a significant contributor to the platform's revenue streams. According to eToro's financial disclosure, the company generated total revenue and income amounting to $13.8 billion in 2025, with cryptocurrency assets accounting for $12.98 billion of that figure.
Assia maintains $250,000 Bitcoin price projection
Speaking at Paris Blockchain Week, Assia shared his outlook that the ongoing market downturn will likely persist for approximately one more quarter before Bitcoin (BTC) transitions into an accumulation period, which he believes will ultimately drive the cryptocurrency's value beyond the $250,000 threshold.
"Bitcoin is on the path eventually to $250,000, $500,000 and beyond."
The eToro chief executive joins a growing list of prominent industry voices calling for Bitcoin to reach $250,000, including BitMEX co-founder Arthur Hayes and Robert Kiyosaki, author of Rich Dad Poor Dad.
That said, major firms across the industry remain split regarding Bitcoin's price direction for the remainder of the year, with several market participants questioning whether the traditional four-year cycle theory still holds relevance in today's market environment.
Galaxy Digital advised investors to exercise caution and characterized the upcoming year as "too chaotic to predict," pointing to pending uncertainties including the US midterm elections and evolving monetary policy as key risk factors.
Irrespective of when such a rally might occur, reaching $250,000 per Bitcoin would necessitate the cryptocurrency's value to climb approximately 3.3 times from current levels and would translate to a market capitalization of roughly $5 trillion. Achieving this valuation would elevate BTC to become the world's second-most valuable asset, trailing only gold, a substantial leap from its current position at number 12, based on data from CompaniesMarketCap.