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Reddit is one of the largest social media forum platforms online, with hundreds of millions of users from all around the world.
On Reddit, users can browse and join mini forums, or ‘subreddits,’ on practically any topic imaginable. Quite a few, in particular, revolve around Bitcoin, cryptocurrencies, and blockchain technology.
The oldest and most prominent cryptocurrency subreddit, r/Bitcoin, a community that was established over a decade ago in 2010, just surpassed the major milestone of two million members.
This community has been around since one Bitcoin was worth a few dollars. Many of the original members are even still active on the forum and do their best to guide newcomers.
The Importance of Social Media Representation
As a growing digitized world, online representation is extremely important for the longevity of any project. This is especially true for something like Bitcoin, as there is no centralized body to represent it.
Many online metrics, such as Google trend search history, can provide indications on the publics’ outlook on an asset or market. Breaking this milestone in the r/Bitcoin community is a big step and shows the genuine interest people have in learning more about the technology.
Subscribing to a subreddit will allow users to automatically receive the top stories posted on the subject in a news feed.
This continues to put Bitcoin in front of the eyes of millions of users a day on just this one platform — a testament to its growth.
With Reddit being a platform primarily used by individuals or retail investors instead of institutions, the breach of two million members highlights the growing Bitcoin audience around the world.
What to Expect Next from Reddit
There are hundreds of subreddits dedicated to individual cryptocurrencies and the ecosystem as a whole. Another extremely popular subreddit in the industry is r/cryptocurrency. It has well over one million followers and is following a similar growth trajectory as r/Bitcoin.
The community is a few years younger than r/Bitcoin, but the general growth across all cryptocurrency subreddits indicates increased retail user interest.
Some of the pieces posted on these different cryptocurrency subreddits are opinionated and highly subjective, but they can be a great way to stay involved in the community and get a feel for the overall industry sentiment.