A recent development in Reddit’s infamous WallStreetBets (WBS) community suggests that the group’s focus may be expanding to cryptoassets, with a new subreddit being launched by what appears to be the same team of moderators.
The WSB subreddit now has almost 11 million followers, while the new one-over 12,000.
The PSP community has become known for the implementation of the GameStop Short Squeeze and brought a number of hedge fund managers to their knees earlier this year.
“Back in April, the idea was spread that it was time to allow discussions about crypto here on r / wallstreetbets. The response was overwhelmingly positive. We had a discussion among us mods at the time to see if it would be something,” the moderators said in a post revealing r/wallstreetbetscrypto.
According to the post, they’ve “always kept crypto out of r/wallstreetbets because it’s just not what this community is all about.”But with a lot of people trading crypto now, times have changed and crypto seems to belong here,” they said.
The authors of the post claim that r / wallstreetbetscrypto is part of the ” same community, the same format, the same things they love about Wallstreetbets run by the same people.”
User feedback was mixed, but numerous Redditors like Orzorn praised the move to separate the ongoing discussions about stocks and crypto.
“I think mixing crypto and stocks in the same sub would be disastrous because they would be two completely different environments,” the user wrote. “Making it your own subreddit bypasses all of these issues and gives people a place where they can discuss crypto without being drowned out by stocks, and where we can discuss stocks without being drowned out by crypto.”