Pavlo Gonchar / SOPA Images / Shutterstock / Pavlo Gonchar / SOPA Images / Shutterstock
The social media platform Reddit, which was on the market in 2021, recently published a “Reddit Recap” at the end of the year. The round-up covers some surprises regarding the platform, including the fact that Redditors have shown more investment interest in Dogecoin than Bitcoin.
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Reddit was at the center of this year’s Meme stock volatility saga – in part due to very active and high-profile retailers on the r / WallStreetBets subreddit – and also announced in December that it had filed confidential filings with the Securities and Exchange Commission (SEC). for an initial public offering (IPO).
“Over the past year, Reddit became the place where people felt empowered and inspired to share their opinions, experiences and stories and to connect with each other to take action and positively impact their communities,” Reddit said in one Blog post.
It’s no surprise that when you break down the most watched topics of 2021, crypto is the number one topic that precedes gaming.
“There were a lot of conversations on Reddit in 2021, but none more prominent than cryptocurrency. For more than 10 years, Reddit has hosted over 500 cryptocurrency communities. As more and more Redditors participate in conversations, be it for information, help or to share great successes, Reddit remains the hub for cryptocurrency enthusiasts, ”the executive summary reads.
In particular, Dogecoin attracted more interest than Bitcoin in 2021 on Reddit: the five most-viewed crypto communities in 2021 were r / dogecoin, r / superstonk, r / cryptocurrency, r / amcstock and r / bitcoin.
Additionally, the blog post notes that r / superstonk’s subscriber growth has grown the most among Reddit’s crypto communities, up 917,000% year over year. At the time of this writing, there were 6.6 million mentions of “crypto” across the platform in 2021.
The most popular posts on Reddit
In terms of the most recommended posts among the crypto communities, Dogecoin once again took first place with a post titled “Who still holds $ DOGE?”. with 80,300 positive votes.
Related: Bitcoin Returns Hike Over 70% in 2021, Outperforming Gold and Stock Markets for the Third Year in a Row
This was followed by posts titled “All the confirmation errors I need, right here in one tweet” by r / superstonk and “You hear about the kid who invested $ 500 in a memecoin and made 100,000, but you don’t hear any of it Hundreds who have invested $ 1000 and have $ 0.1 left, ”from r / cryptocurrency.
Other interesting topics were AMC and Tesla with the articles “AMC YOU IN JAIL, CHEATERS” and “Tesla buys 1.5 billion list of the most popular threads.
Reddit is expanding and opening new offices
In addition to the planned IPO, Reddit said it is continuing its global expansion by announcing new offices in Canada, Australia and Germany and reaching new Redditors around the world.
“The number of shares to be offered and the price range for the proposed offer have not yet been determined. The IPO is expected to occur after the SEC’s review process is completed, subject to market and other conditions, ”Reddit said. “We are in a quiet phase and cannot say anything further for regulatory reasons.”
Also: Dogecoin, Stimulus Check and more of the most searched financial terms of 2021 on Google
Peter Cohan, a senior lecturer at Babson College and the author of “Goliath Strikes Back,” told GOBankingRates at the time that it was a confidential filing, and that it was hard to tell if the company was growing fast or making money.
“At the same time, I could imagine it turning into a meme stock as it is home to WallStreetBets, the ultimate meme incubator,” added Cohan.
Reddit makes the headlines, produces ads
Reddit also noted in its 2021 roundup that it aired its “first 5-second Super Bowl ad (or as we call it, Superb Owl). We’ve added new features – Reddit Talk, Predictions, and CryptoSnoos – that give Redditors more ways to connect and interact with each other. “
Find out: Valkyrie launches Balance Sheet Opportunity ETF with exposure to Bitcoin, targeting “increasing demand for crypto investments made easy”
Explore: Yahoo expert predicts 2022 will be an even bigger year for crypto
Reddit hit the headlines earlier this year when r / WallStreetBets retailers looking to take down hedge fund shorts by buying heavily short stocks spiked said stocks – including GameStop, AMC Entertainment, and Bed Bath & Beyond – … and then tumbled away. In turn, market volatility caught the attention and sometimes the ire of regulators.
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About the author
Yaël Bizouati-Kennedy is a retired full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She has also worked as a vice president / senior content writer for major NYC-based financial firms, including New York Life and MSCI. Yaël is now freelance and most recently worked with Dr. Sean Manion authored the book “Blockchain for Medical Research: Accelerating Trust in Healthcare”. (CRC Press, April 2020) She has two Masters degrees, including one in Journalism from New York University and one in Russian Studies from Université Toulouse-Jean Jaurès, France.
