WallStreetBets founder deems the crypto barrier needs to simplify
- WallStreetBets founder Jaime Rogozinski has recently shared how he began with the Subreddit
- Robinhood has been one of the most favorite exchanges of investors at the beginning of this year
- Robinhood’s decision to prohibit GME stock trade has angered many investors
- Jaime believes that cryptocurrencies have the potential, which makes attracts him towards the digital assets market
WallStreetBets is a Reddit forum founded by Jaime Rogozinski in 2012. At the beginning of this year, the forum gained tremendous exposure with pumping prices in the financial market. In addition, Retails traders took to the Subreddit to discuss potential short squeeze opportunities in the stock market. Such stocks include GameStop (GME) and AMC Entertainment Holdings Inc. (AMC). Recently, Jaime appeared in an interview with Benzinga. In the session, Jaime revealed his journey with the forum. Moreover, it was revealed that the founder has signed with a movie about his journey.
How did WallStreetBets begin in 2012?
According to Jaime, he had earned a lot beyond his needs while working at an international bank. With the pile of funds, he began to seek better ways to invest his funds. Jaime noted that higher risk opportunities have higher gain potentials.
Following the scenario, Jaime began to explore the financial world to invest his funds. Moreover, he used to discuss more risk-on investing techniques. Hence, it was then he planned to create the forum. As a result, according to the founder, WallStreetBets was organically growing by about 100% every year.
Robinhood exchange’s platform has a good interface
With the GameStop frenzy among investors globally, WallStreetBets exploded. The steady growth took a heavy pace, and in a short span of time, the community grew by more than 10 million Redditors.
Notably, Redditorsthe subreddit founder noted that most of its members were using the Robinhood exchange platform, as they used to like its easy-to-understand user interface. Notably, the users claimed that the platform is free to use. According to Jaime, Keith Gill is one of the great examples, as he doesn’t care if he gets worse execution.
However, the platform took an unexpected u-turn that angered a lot of investors. Following how the community was pumping the GME shares price, Robinhood prohibited trading on that stock. Indeed, still, there are a lot of users upset following the move of the exchange platform.
Cryptocurrencies have the potential
Jamie used to see cryptocurrencies as just another uninteresting asset class. He believed that individuals only talk about the prices in the digital currency market, which is least interesting. However, he then began to discover the transformational ecosystem, and the assets that were in their infancy became interesting as he observed the industry’s potential.
According to WallStreetBets founder, many seek exposure to the price action in the market. However, it is significant to simplify the barriers in the industry first. Hence, Jaime revealed that he had signed an agreement to his story to a movie studio. It is expected that the movie featuring Jaime’s journey and experiences with the subreddit forum will premiere by 2022.
Back to the list