Reddit investor forum WallStreetBets, which helped drive the trading frenzy in videogame retailer GameStop Corp.’s (NYSE:GME) stock earlier this year, has finally bowed to the rising cryptocurrency wave.
What Happened: The moderators of WallStreetBets will now allow discussions on Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE) — but no other cryptocurrency — inside a daily Crypto discussion thread.
“I don’t see the point in delaying the inevitable anymore as crypto is here to stay. After much deliberation, we’ve decided to allow for discussion about only BTC, ETH and DOGE only inside of a daily Crypto discussion thread as to not burden everyone with crypto spam,” a post from moderator “bawse1” on the site said.
Why It Matters: The decision by the moderators marks a reversal for the subreddit channel, which has so far not allowed discussions on cryptocurrencies as members did not want the focus to deviate from the discussion about publicly traded stocks.
The decision comes after cryptocurrency exchange Coinbase Global Inc. (NASDAQ:COIN) made its high-flying debut on the Nasdaq stock exchange on Wednesday.
It also comes in the wake of the world’s two largest cryptocurrencies by market capitalization — Bitcoin and Ethereum — hitting new all-time highs. Bitcoin touched a never-before-seen level of $64,863.10 and Ethereum hit an all-time high on Wednesday of $2,453.33.
Dogecoin also hit an all-time high of $0.1425 on Wednesday.
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