The host of the well-known Reddit forum Wallstreetbets is known for making Gametop (GME) stock prices as a global trend topic, thus lifting the ban on all discussions related to Bitcoin, Ethereum and Dogecoin. However, after a recent Bloomberg article, the decision was overturned.
Allow Bitcoin, Ethereum, Dogecoin discussion for only one day
On April 14, 2021, the Wall Street betting host issued a statement commenting on why they have been banning crypto-related discussions in their thread, and pointed out that their main focus is the stock market. They went on to elaborate on the matter:
After careful consideration, we decided to allow only BTC, ETH, and DOGE to be discussed in the daily Crypto discussion thread, so as not to bring Crypto spam to everyone. All rules will still apply outside the thread, but for now please keep it only in the daily thread, because we will evaluate whether this is suitable for our child threads. To be clear, we are not a cryptocurrency unit. We just want to find a place for you in subreddit.
Wallstreetbets’ decision to allow discussions on Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE) attracted many comments on the statement.
Some users even joked about Coinbase, which was recently listed on the stock market. “Ah, someone must have bought a position in COIN. Great timing module,” Reddit user said.
Bloomberg’s report helped reverse the lifting of the ban
After making this decision, mainstream media responded to this announcement, such as Bloomberg, who wrote an article titled “Wallstreetbets bows to the crypto wave and allows Bitcoin discussion.”
Such an article, coupled with other articles published in the media, displeased Wallstreetbets, who reinstated the ban on Thursday.
The host commented on the topic “RIP WSB CRYPTO 4/14-2021 – 4/15-2021”:
As a result of writing @bloomberg’s article, he somehow felt that “Wallstreetbets bows to cryptocurrency”. Encryption discussions are banned indefinitely. I read a lot of stupid articles about WSB. This one takes the cake. PS as always. Please respect.
Wallstreetbets members made headlines in early 2021. They drew out nearly 2,000% of the stock price of video game retailer Gametop through a brief squeeze.
What do you think of Wallstreetbets’ decision? Let us know in the comments section below.
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