A smartphone screen lies next to several dollar bills. The WallStreetBets Reddit page can be seen on the screen.
On Reddit, the Bitcoin community has seen strong growth as a result of r / wallstreetbets.
Two million users are now part of the subreddit
The effects of the subreddit r / wallstreetbets (WSB) now also rub off on Bitcoin – at least indirectly. On the social media platform Reddit, the group “/ r / Bitcoin” breaks the two million follower mark. The community currently has a little over 2.2 million “Redditors”. The subreddit now ranks 178th among the most popular pages on the platform.
The Bitcoin group undoubtedly benefited from the media attention of r / wallstreetbets. After all, the hype surrounding the GameStop share and Dogecoin allowed the crypto group to grow by more than 250,000 users in a few days. This is shown by the latest figures from the FrontPageMetrics analysis platform for Reddit.
However, the crypto Reddit group cannot keep up with the hype surrounding the r / wallstreetbets
The group of small investors caused a stir last week when they stood up to the “big players” on Wall Street. Hedge funds had tried to use shorting methods to profit from the drop in GameStop stock. That backfired when the Reddit community caught it, agreed, and simply bought the share price up. The result for the hedge funds was losses of billions.
The Reddit gamers are also suspected to be behind the exorbitant rise in the price of Dogecoin . The WSB not only benefit from high profits, the group is also very popular on Reddit. While the hobby investor’s subreddit was still scratching the two million users on January 21, it grewCommunity to over 7.6 million users within ten days. An increase of almost 400 percent.