The Reddit investor forum r/WallStreetBets has launched a new forum that will allow investors to discuss about cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE).
What Happened: A post by WSB moderator “bawse1” announced the launch of the new forum “r/wallstreetbetscrypto,” citing the overwhelmingly positive response to the idea on the forum.
See Also: How To Buy Bitcoin (BTC)
“With so many people trading crypto now, times have changed and crypto does seem to belong here,” the moderator said in the post.
Applications have also been invited from people interested in joining as moderators for the new crypto forum.
Why It Matters: The WSB forum, which has 10.9 million members, is best knowing for helping drive the trading frenzy in videogame retailer GameStop Corp. (NYSE:GME), AMC Entertainment Holdings Inc. (NYSE:AMC) and other heavily shorted stocks earlier this year.
Cryptocurrency as a topic was banned on the Reddit forum for several years as members did not want the focus to deviate from the discussion about publicly traded stocks.
It was reported in April that the WSB moderators agreed to allow discussions on only three cryptocurrencies — Bitcoin, Ethereum and Dogecoin — on the forum.
A ban on all cryptocurrency discussion on the forum was reinstated less than 24 hours later after a story by Bloomberg said that WallStreetBets had “bowed” to the crypto wave.
A separate Dogecoin subreddit, known as “r/dogecoin,” now has 2.2 million “subshibers.” Dogecoin fans call themselves “subshibers” on Reddit, as a replacement for the more usual word “subscribers.”
Price Action: Bitcoin is up 0.6% during the past 24 hours, trading at $44,409.98 at press time, while Ethereum is down almost 1% during the 24-hour period to $3087.24.
Dogecoin is 0.9% lower during the 24-hour period to $0.2231.