🚨 Time is Running Out: Reserve Your Spot in the Lucky Draw & Claim Rewards! START NOW
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

Video Courses
Video Courses
Scale your career with online video courses. Dive into your learning adventure!

Reddit's Treasury Takes a Crypto Turn with Bitcoin and Ethereum

Reddit's Treasury Takes a Crypto Turn with Bitcoin and Ethereum

Key Takeaways

  • Reddit has been diversifying its treasury by strategically investing in Bitcoin and Ethereum since 2022.
  • Reddit is also actively engaging with blockchain technology for operational purposes, such as using Ethereum and Polygon for transactions involving virtual goods.
  • The company's venture into cryptocurrencies aligns with its broader strategic goals, including preparations for a public offering.

Reddit has started incorporating minor allocations of Bitcoin (BTC) and Ethereum (ETH) into its treasury, as detailed in a filing with the US Securities and Exchange Commission.

Since 2022, the company has been strategically investing a portion of its excess cash reserves into Bitcoin and Ethereum, the only cryptocurrencies currently held by the company.

What is Tezos? XTZ Cryptocurrency Easily Explained (ANIMATED)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Tezos? XTZ Cryptocurrency Easily Explained (ANIMATED)

What is Tezos? XTZ Cryptocurrency Easily Explained (ANIMATED) What is Tezos? XTZ Cryptocurrency Easily Explained (ANIMATED)

Despite the investments being described as "immaterial" in scale, Reddit believes in the "significant potential" of cryptocurrencies and blockchain technology.

The company's engagement with blockchain doesn't stop at investment; it extends to the adoption of blockchain technology for practical applications, such as using Ethereum and Polygon (MATIC) for virtual goods transactions.

However, the company remains cautious, acknowledging the nascent nature of crypto adoption among businesses and consumers. 

The disclosure came as part of Reddit's preparations for a public offering, which also revealed the company's net loss of $90.8 million in 2023, despite a revenue increase to $804 million.

Our users have a deep sense of ownership over the communities they create on Reddit. This sense of ownership often extends to all of Reddit <...>. We want this sense of ownership to be reflected in real ownership—for our users to be our owners. Becoming a public company makes this possible.

Reddit's foray into cryptocurrency investments and blockchain technology experimentation represents a forward-thinking approach to asset diversification and technological adoption.

In July 2023, Reddit's commitment to digital innovation was also marked by the launch of Gen 4 collectible avatars.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.



Earn Huge Exclusive Binance Learners Rewards