A latest growth in Reddit’s infamous WallStreetBets (WBS) group suggests the group’s focus may very well be increasing to cryptoassets, with a new subreddit launched by what seems to be the identical group of moderators.
The WSB subreddit now has nearly 11m followers, whereas the brand new one – over 12,000.
WBS group has risen to prominence by finishing up the GameStop brief squeeze and bringing various hedge fund managers to their knees inat the start of this yr.
“Again in April, the thought was floated that it was time to permit dialogue about crypto right here on r/wallstreetbets. The response was overwhelmingly optimistic. We had a dialogue amongst us mods on the time to see if it will be one thing,” the moderators said in a put up during which they unveil r/wallstreetbetscrypto.
Per the put up, they “all the time saved crypto out of r/wallstreetbets as a result of it simply is not what this group is about.” However with many individuals buying and selling crypto now, “occasions have modified and crypto does appear to belong right here,” they stated.
The put up’s authors declare r/wallstreetbetscrypto is a part of “the identical group, identical format, identical stuff you love about wallstreetbets, run by the identical individuals.”
Customers’ suggestions has been blended, however quite a few Redditors, resembling Orzorn, praised the transfer to separate the continued discussions on inventory and crypto.
“I believe mixing crypto and shares into the identical sub could be disastrous as a result of it will be two completely totally different environments mixing,” the person wrote. “Making it its personal subreddit will get round all of those points and provides a spot for individuals to debate crypto with out being drowned out by shares, and for us to debate shares with out being drowned out by crypto.”
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