What is 'Cashtags'? Musk Rolls Out New Twitter Feature That Allows Trading in Stocks and Crypto

It's a decisive move of Elon Musk towards all-in-one app.

Elon Musk

Since the time Elon Musk has taken over Twitter, the microblogging site is always in the news. Now Elon Musk has introduced a new feature of 'Cashtag' on the microblogging platform. Twitter has partnered with Israel-based social trading company e-Toro, which will allow Twitter users to trade in stocks and cryptocurrencies. The new feature 'Cashtag' will let users search for a ticker symbol and insert a dollar sign in front of it, after that the app will show them price information from TradingView using an API.

To understand in simple language, the 'Cashtag' is similar to 'hashtag', using them is pretty simple and easy, only the user has to replace the # symbol with the $ sign. Type the ticker symbol (acronym) of the cryptocurrency or company you are searching for eg: $TWTR for Twitter, or $GOOG for Google.

Immediately, all the information related to the company or currency appears. Cashtags will also allow users to view market charts on an expanded range of financial instruments and buy and sell stocks and other assets from eToro.

The 'Cashtag' feature was introduced on December 2022 and implemented on April 13, 2023. Twitter business handle explained last December that, " People on Twitter see a clickable link that brings them to search results when you Tweet the symbol of stock, ETF, or cryptocurrency with a $ in front of it (such as $BTC). You can also search for symbols without clicking on a link within a Tweet."

The Twitter-eToro partnership will expand the real-time financial data available to Twitter users and allow them to participate in these assets. Twitter will lead its users to the eToro website, where they can trade stocks, cryptocurrency, etc. The financial function will expand twitters functioning to another level.

As Elon Musk has already announced that he is looking to build an all-in-one app in near future, every other addition seems his well-thought move in that direction.