Bitcoin has recently grabbed many headlines as the cryptocurrency goes through a roller coaster of price fluctuations and keeps the crypto community talking about it. The recent GameStop and AMC stock incident propelled by a Reddit group has encouraged increased activity on the Bitcoin subreddit group as well.
r/Bitcoin is one of the most popular online Bitcoin communities where the members talk about Bitcoin.
Bitcoin Subreddit Gets Massive Number of New Followers
The Bitcoin subreddit crossed two million subscribers last Friday. The rise is attributed to the much in the news GameStop shares incident, which resulted from collective community effort. The r/WallStreetBets Reddit board helped skyrocket the price of GameStop and AMC shares against the hedge fund manager Melvin. Considering the Reddit analytics metrics, the Bitcoin Subreddit group has more than 2 million subscribers right now.
It ranks at 178th position right now in more than 100000 active Reddit boards. It is interesting to note that the subreddit group had only one million members around one and had a year ago, it added another million in such a short time. Around 200,000 users followed the r/Bitcoin Subreddit page from January 26th to January 30th. Though Bitcoin has been making headlines for quite some time now, the hype around the retail investors spiking the GME stock price against the short-sellers on Wall Street may have attracted more people to the Bitcoin Reddit group.
The r/Bitcoin Reddit group is one of the most active groups around Bitcoin and has been used enormously by Bitcoin aficionados since 2010. Since the Bitcoin White paper launch, this group has been a discussion and news sharing platform for the Bitcoin community. People share memes, humor, news, rumors, and projections on the board.
Recently another subreddit group SatoshiStreetBets took cues from the WallStreetBets to surge the price of Dogecoin. The community called out to make dogecoin a crypto equivalent of GameStop and vowed to increase the DOGE token price. Off late Reddit, groups have garnered major limelight and played a pivotal role in turning around the stock markets. The GameStop incident was so head-turning that even the US regulators and Lawmakers took notice and led many popular newspapers to publish the story.
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