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Wall Street Bets allows members to discuss select cryptocurrencies on its Reddit forum after years of limiting posts on digital assets

Apr 15, 2021, 18:21 IST
Business Insider
Igor Golovniov/SOPA Images/LightRocket via Getty Images
  • Wall Street Bets is allowing posts on some digital assets after years of discouraging crypto chatter.
  • Only discussions on bitcoin, Ethereum's ether, and dogecoin will be allowed, a moderator post said.
  • "I don't see the point in delaying the inevitable anymore as crypto is here to stay," the moderator wrote.
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Wall Street Bets, the Reddit forum that kickstarted GameStop's epic trading frenzy, is allowing its members to exchange views on some cryptocurrencies, according to a recent moderator post.

The subreddit has a "No Cryptocurrency" rule, listed as part of a content guide, that limits posts solely tied to cryptocurrencies or the technology they run on. Some other rules include "No Pump & Dump" and "No Market Manipulation."

But now discussions on bitcoin, Ethereum's ether, and dogecoin will be allowed only within a daily crypto discussion thread, the post said.

Wall Street Bets/Reddit

"I don't see the point in delaying the inevitable anymore as crypto is here to stay," a moderator who goes by the username "bawse1" said. The subreddit had stayed away from allowing posts on crypto on concern that "crypto discussion overtakes the core of what r/wallstreetbets is about, which is the stock market."

The social platform and community group is known to seek opportunities to improve their finances through high-risk day trading. An explosion of interest in digital currencies has led the group to open up its discussion thread to members who "love" them.

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"Just to be clear, we are not a crypto subreddit," the moderator wrote. "We're just trying to find a place for you guys within our subreddit."

WSB's move came on the same day as crypto exchange Coinbase's public debut and bitcoin posted a new all-time high of near $65,000.

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