Crypto News

Bitcoin subreddit hits 2M subscribers following GameStop controversy

More than 200,000 Redditors joined the page last week.

One of the most well-known online Bitcoin communities passed two million subscribers in a surge of activity on Friday, purportedly due to the media attention over the r/Wallstreetbets subreddit.

According to the Metrics For Reddit analytics website, the subreddit r/Bitcoin has 2,184,941 subscribers at the time of publication, making it the 178th most popular subreddit among more than 100,000 active pages. The Bitcoin (BTC) subreddit hit the two million subscriber milestone on Friday, more than 18 months after reaching one million.

Though much of the growth in the subreddit following the 2017 bull run was gradual, interest in r/Bitcoin exploded last week, with more than 200,000 accounts subscribing to the page between Jan. 26 and Jan. 30, from 1,982,681 to 2,184,941.

Subscriber growth for r/Bitcoin. Source: Metrics for Reddit

Many of the new subscribers may have been drawn to the subreddit following mainstream media outlets reporting on retail investors from r/Wallstreetbets going up against major Wall Street traders short-selling GameStop stock in a financial David and Goliath story. In addition to being covered in rags like the Wall Street Journal and New York Times, the story — and allegations of market manipulation on the part of hedge funds and brokers — caught the attention of U.S. lawmakers and was featured prominently in a Saturday Night Live sketch yesterday.

The r/Bitcoin subreddit was created in September 2010, two years after the release of the Bitcoin white paper. Since that time, its influence on the crypto space has been immeasurable, providing news, rumors, memes, and comedy to Bitcoin newbies and HODLers alike. 

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