IPO - Did Reddit Bet Its IPO On Bitcoin? 'Sounds Like A Stupid Decision' Redditor Says | Benzinga
Reddit's recent strategic move to invest in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) has not just made headlines but has also ignited a fiery debate across its own vast network of forums.
What Happened: Following the announcement of Reddit's investment in cryptocurrencies, the platform's subreddits are dissecting this decision from every conceivable angle.
Especially in light of the company's upcoming initial public offering (IPO), users remain skeptic.
"This sounds like a stupid decision," one user writes in the subreddit r/Buttcoin.
In the thread titled "Why is Reddit investing in crypto?," another one states: "Diving into the volatile crypto market now seems like a gamble, especially pre-IPO. What's the strategy here?"
Another discussion, under the banner "This is awkward," has users pointing ...