r / Wallstreetbets, a company known for staging a short squeeze on Dogecoin and GameStop, is adopting a cryptocurrency ban after officially allowing the topic for one day.
Broker Sub Transfer u / bawse1 announced on Thursday that r / Wallstreetbets has now banned cryptocurrency discussions forever after a Bloomberg article titled “WallStreetBets worships cryptocurrency.” Just the day before, the broker officially announced that the subreddit will finally allow the discussion of cryptocurrencies limited to Bitcoin (BTC), Ether (ETH) and Dogecoin (DOGE). The new post reads:
Due to an article written by Bloomberg, who somehow sensed that “WallStreetBets is leaning towards Crypto. Discussing encryption is prohibited indefinitely. I have read a lot of stupid articles written about WSB. This one takes the cake. Notification. as always. Be respectful. ”
The r / Wallstreetbets policy update on Thursday states that the subreddit will automatically remove content that mentions cryptocurrencies as well as non-exchangeable tokens. You may mention this in passing, but posts that are solely about cryptocurrency or the underlying technology are prohibited. The cryptocurrency market is typically made up of small accounts, pumps and bounces, ”reads the subreddit’s content guide.
R / Wallstreetbets was founded in 2012 and is a sub-forum where members discuss stock and options trading. The subreddit, with nearly 10 million members, became hugely popular this year after r / Wallstreetbets siphoned off an abundance of GameStops stock, pushing the price from $ 20 in early January to over $ 340 on January 28.
While the GME man has chilled a bit, the stock is trading at $ 158 at the time of writing, DOGE recently hit new highs, setting a new record of $ 0.29 on Friday. Altcoin is up more than 380% in the past seven days and is up over 6,000% in the past 12 months.