Bitcoin Subreddit, which is one of the well-known Bitcoin communities, has recently surpassed two million subscribers. It has been revealed that the reason behind this huge surge is the current media attention over the WallStreetBets subreddit.
Metrics for Reddit, an analytics website, has revealed that the Bitcoin subreddit is having 2,184,941 subscribers at the present time. Due to this recent surge, it became the 178th most popular subreddit. It hit more than 2 million subscribers on Friday, and it is 18 months after reaching 1 million subscribers.
Bitcoin Subreddit Got 200,000 Subscribers in the Last Week
Since the 2017 bull run, the Bitcoin subreddit was growing gradually, however, in the last week, it has been seen that interest in the Bitcoin group is increasing too rapidly. From January 26 to 30, there has been a surge of 200,000 subscribers on the Bitcoin subreddit which has led to more than 2 million subscribers.
It is believed that the major reason behind this surge in the number of subscribers might be the ongoing WallStreetBets and GameStop controversy. There have been allegations of market manipulation and the controversy is caused due to this. Most of the media outlets are focusing on it and investors are also paying close attention to it. Not only investors but U.S. lawmakers are also keeping an eye on this WallStreetBets drama, and along with this, it was also featured on the Saturday Night Live sketch.
Bitcoin Community Having Great Influence on Its Subreddit
Bitcoin subreddit was created back in September 2010 only and since then, it has been seen that it is having great influence. The crypto community follows this subreddit significantly and provides news, rumors, memes, and many things related to Bitcoin. It is more like a major news outlet for Bitcoin, which is extremely beneficial for all the newbies in the industry.