WallStreetBets bows to crypto wave, allows Bitcoin discussion


Reddit's WallStreetBets forum loosens its "No Cryptocurrency" rules, with its admin admitting that trading of cryptocurrency is here to stay. — Bloomberg

Even the moderators of WallStreetBets can’t hold back the rising Bitcoin crypto wave any longer.

The freewheeling web forum will start allowing discussion of Bitcoin, Ether and Dogecoin in a daily Crypto discussion thread, according to a post from moderator "bawse1” on the site.

The group has a "No Cryptocurrency” rule forbidding posts devoted solely to digital tokens like Bitcoin and their underlying technology, and that still stands elsewhere in the forum.

"I don’t see the point in delaying the inevitable anymore as crypto is here to stay,” the post said. The forum has avoided posts on crypto for many years mainly because its "concern is that crypto discussion overtakes the core of what WallStreetBets is about, which is the stock market.”

WallStreetBets, famous for the frenzy its users created in video game retailer GameStop Corp.’s stock, has also seen multiple references to outperforming shares of cryptocurrency miners such as Riot Blockchain Inc. and Marathon Digital Holdings Inc. amid Bitcoin’s resurgence over the past year.

Euphoria around digital assets surged this week as Bitcoin hit a record of almost US$65,000 (RM268,320) before pulling back after the debut of the US crypto exchange Coinbase Global Inc. on Nasdaq Wednesday. – Bloomberg

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