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Futures
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NEW
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VIP Wealth Hub
Customized wealth management empowers your assets growth
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Customized asset management to grow your digital assets
Quant Fund
Top asset management team helps you profit without hassle
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HOT
Stake BTC and earn 10% APR
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BlueSky vs X: Who will win the social platform battle?
The landscape of social platforms has been interesting over the past two years. X (formerly Twitter), after being privatized by Musk, saw its daily active users plummet from 250 million in 2023 to 157 million, with a monthly drop of 14%. In contrast, BlueSky (founded by former Twitter CEO Dorsey) has actually taken off – after Brazil banned X, it gained 3 million new users, and after Trump’s election, it rose by another million, currently standing at 15 million users.
It seems that BlueSky is very enticing, but the reality is heartbreaking: it is still a private company, and retail investors cannot buy stocks. Only certified investors with a net worth of millions can participate in the financing rounds (the latest round raised $15 million in October).
What’s even more heartbreaking is that BlueySky's daily active users are only 1/10 of X, and it has to compete with Threads (Zuckerberg's Meta product). To put it bluntly, investing in it now is just betting that it can survive and grow. The risks are enormous.
Special Reminder: Don't be fooled by BlueSky Digital Assets Corp. (BTCWF), this scam has nothing to do with the social platform. After the election, it rose from $0.04 to $0.60, which is just retail investors getting it wrong.