Throwback: When WallStreetBets Banned Bitcoin, Ethereum, Dogecoin Discussions Because of ‘Bow to Crypto’ Gibb

reddit investor forum wall street betsthat helped drive a merchandising frenzy at the videogame retailer gamestop Stocks in early 2021, with sanctions later that year reinstating the ban on all cryptocurrency discussions less than 24 hours after allowing a crypto discussion thread.

What happened: The ban was reinstated in April 2021 after a story by Bloomberg Said WallStreetBets had succumbed to the crypto wave.

Because of the article written by “@bloomberg who somehow realized that ‘WallStreetBets booze to crypto’ crypto discussion is banned indefinitely. I’ve read way too many stupid articles written about WSB. This one takes the cake,” said a post by moderator “Bawse1” on the site.

See also: Robinhood Goes Beyond Trading: Launches Fiat-to-Crypto On-Ramp for Self-Custody Wallet

why it matters: WallStreetBets draws attention as 2021 begins as retailer traders affiliated with the forum bid up videogame retailer GameStop’s stock and other heavily shorted stocks such as amc entertainment To make a small squeeze.

See also: How to buy Dogecoin (DOGE)

Cryptocurrency as a topic was banned on the Reddit forum for many years because members did not want to distract from discussions about publicly traded stocks.

That changed on Wednesday when the forum’s moderators said will allow discussion But Bitcoin BTC/USD, Ethereum ETH/USD And dog coin doge/usd – but not any other cryptocurrency – inside a daily crypto discussion thread.

The decision comes after cryptocurrency exchange coinbase Made its high-flying debut on the Nasdaq Stock Exchange.

The world’s two largest cryptocurrencies by market capitalization – Bitcoin and Ethereum – just had a look all time high When this saga unfolds in 2021. That week bitcoin touched a never-before-seen high of $64,863.10 and Ethereum touched an all-time high of $2,547.56. dogecoin hit all time high of $0.2917, raised by social media buzz around the meme-centric cryptocurrency at the time.

Read further: Star Trek’s ‘Captain Kirk’ Predicts Crypto Boom: ‘It Will Be Worth So Many Thousands of Dollars’

this was the story originally published On April 16, 2021.

Source link

Leave a Comment