Bitcoin
Bitcoin (BTC)
$95,880.00 -0.71445
Bitcoin price
Ethereum
Ethereum (ETH)
$2,573.04 -4.46345
Ethereum price
BNB
BNB (BNB)
$573.12 -0.88052
BNB price
Solana
Solana (SOL)
$189.20 -0.96122
Solana price
XRP
XRP (XRP)
$2.36 1.32531
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000148 -1.20682
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -8.30922
Pepe price
Bonk
Bonk (BONK)
$0.0000161 -4.68799
Bonk price
dogwifhat
dogwifhat (WIF)
$0.651727 -9.50016
dogwifhat price
Popcat
Popcat (POPCAT)
$0.207113 -1.75635
Popcat price
Bitcoin
Bitcoin (BTC)
$95,880.00 -0.71445
Bitcoin price
Ethereum
Ethereum (ETH)
$2,573.04 -4.46345
Ethereum price
BNB
BNB (BNB)
$573.12 -0.88052
BNB price
Solana
Solana (SOL)
$189.20 -0.96122
Solana price
XRP
XRP (XRP)
$2.36 1.32531
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000148 -1.20682
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -8.30922
Pepe price
Bonk
Bonk (BONK)
$0.0000161 -4.68799
Bonk price
dogwifhat
dogwifhat (WIF)
$0.651727 -9.50016
dogwifhat price
Popcat
Popcat (POPCAT)
$0.207113 -1.75635
Popcat price
Bitcoin
Bitcoin (BTC)
$95,880.00 -0.71445
Bitcoin price
Ethereum
Ethereum (ETH)
$2,573.04 -4.46345
Ethereum price
BNB
BNB (BNB)
$573.12 -0.88052
BNB price
Solana
Solana (SOL)
$189.20 -0.96122
Solana price
XRP
XRP (XRP)
$2.36 1.32531
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000148 -1.20682
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -8.30922
Pepe price
Bonk
Bonk (BONK)
$0.0000161 -4.68799
Bonk price
dogwifhat
dogwifhat (WIF)
$0.651727 -9.50016
dogwifhat price
Popcat
Popcat (POPCAT)
$0.207113 -1.75635
Popcat price
Bitcoin
Bitcoin (BTC)
$95,880.00 -0.71445
Bitcoin price
Ethereum
Ethereum (ETH)
$2,573.04 -4.46345
Ethereum price
BNB
BNB (BNB)
$573.12 -0.88052
BNB price
Solana
Solana (SOL)
$189.20 -0.96122
Solana price
XRP
XRP (XRP)
$2.36 1.32531
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000148 -1.20682
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -8.30922
Pepe price
Bonk
Bonk (BONK)
$0.0000161 -4.68799
Bonk price
dogwifhat
dogwifhat (WIF)
$0.651727 -9.50016
dogwifhat price
Popcat
Popcat (POPCAT)
$0.207113 -1.75635
Popcat price

Reddit holds Bitcoin, Ether, Matic on balance sheet per IPO filing

Brian Stone
Edited by
News
Reddit holds Bitcoin, Ether, Matic on balance sheet per IPO filing

Reddit said it acquired major cap cryptocurrencies, including Bitcoin, for varying reasons and has received digital asset payments for limited services since at least 2022. 

Social network Reddit holds Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC) according to its initial public offering (IPO) filing with the U.S. SEC on Feb. 22. The company said it experiments with blockchain technology and crypto tokens, complying with disclosure requirements as it plans to go public under the ticker RDDT.

We invested some of our excess cash reserves in Bitcoin and Ether and also acquired Ether and Matic as a form of payment for sales of certain virtual goods, which we may continue to do in the future. Ether and Matic received from the sales of virtual goods was not material for the years ended December 31, 2022 and 2023.

IPO SEC filing

The company also said that its product and engineering teams leverage cryptocurrencies for specific use cases. Earlier this year, the social media giant confirmed its forthcoming IPO slated for March. Reddit plans to offer 10% of its shares after being valued at $10 billion in 2021.

Our users have a deep sense of ownership over the communities they create on 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.

Steve Huffman, Reddit co-founder

The social network is a hub for blockchain discourse and crypto alpha, with over 850 million monthly active users recorded last year. A CoinWire report said 80% of Reddit’s crypto conversations in 2023 were positive.

However, the platform has not been without crypto controversy as the site’s administrators received backlash over a decision to sunset its blockchain-powered community points program.