WallStreetBets Reinstates Crypto Ban In Hectic Week

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Last Updated on 17 April 2021 by CryptoTips.eu

Jeroen Kok

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The almost 10 million strong degenerates (or degens as they call themselves) of WallStreetBets briefly allowed crypto discussions this week, but then reinstated their earlier ban when some moderators were surprised at the MSM claiming their group had bowed down to crypto.

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WallStreetBets, the group of retail traders that rose to fame in January of this year, are known for their group moves around certain stocks. Earlier this year they successfully short squeezed a hedge fund which had taken a massive short position against GameStop, a classic brick-and-mortar shop that sells videogames. Ever since then, the group has been attracting new users by the thousands.

Until recently, the group had a no crypto discussions rule, which was broken for a brief while this week.

It all started around Tuesday when one of the more experienced posters, moderator Bawsel claimed that there was no point upholding the no crypto discussions ban anymore seeing the success of Coinbase’s listing on the Nasdaq stock market.

He stated:

I don’t see the point in delaying the inevitable anymore as crypto is here to stay.

His post then went on to explain that the main reason for it was that the core group of investors had a:

Concern that crypto discussion overtakes the core of what WallStreetBets is about, which is the stock market.

However, upon seeing a title by Bloomberg (which WallStreetBets sees as part of their nemesis group, namely the MSM writing for hedge funds) that they had bowed to crypto, another moderator reinstated the ban on Thursday, explaining:

Due to the article that was written @bloomberg who somehow felt that ‘WallStreetBets Bows to Crypto’ Crypto discussion is banned indefinitely. I’ve read a lot of dumb articles written about WSB. This one takes the cake.

Never say never though, let’s wait and see what they do if Bitcoin gets to $100k.

AntonioB / Depositphotos.com