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Reddit’s Wall Street Bets Is Moving Into The Crypto Space


This is interesting to say the least, keep your eyes peeled on this….

Wall Street Bets made headlines when it beat stock brokers at their own game earlier this year.

According to sources, the group is now set to enter the crypto space, and this could potentially mean big things for crypto investors.

Those familiar with the group know that it pretty much changed trading forever by essentially becoming the ‘hedge fund of the people’, as many on the net have touted.

All those diamond hands and rocket ships heading to the moon are now coming into our space, and some believe that it may not be such a bad idea to join the group for trade ideas—though I caution against it.

Will Wall Street Bets bring prosperity to crypto investors, or will its market distorting practices cause even more volatility in an already extremely volatile market?

Here’s more on the story:

Decrypt reports:

WallStreetBets, the Reddit forum whose members coordinated to send GameStop stock through the roof, is creating a separate subreddit just for cryptocurrency discussions.

According to a Wednesday announcement from user bawse1, “It’s the same community, same format, same things you love about wallstreetbets, run by the same people.”

Crypto Briefing explains:

Though /r/WallStreetBets allows members to discuss most types of investment, cryptocurrency discussions are largely prohibited on the main subreddit. Moderator bawse1 explained that crypto-focused discussion has been considered since April, but was not implemented due to concerns about crypto topics taking over the forum entirely.

“We always kept crypto out of /r/wallstreetbets because it just isn’t what this community is about,” he noted.

Later, he found a way “to allow at least some discussion” by allowing only Bitcoin, Ethereum, and Dogecoin conversations. 

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