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Reddit Reverses Crypto Strategy, Sells Off BTC and ETH Held for Treasury

  • Social media giant Reddit has sold off the majority of its crypto holdings, worth nearly US $7 billion.
  • The move was made to mitigate the unique risks associated with holding digital assets.
  • Unfortunately, Reddit sold just before Bitcoin's price surged, resulting in significant opportunity cost.
  • Reddit still believes in the potential of cryptocurrencies but is cautious due to their volatility and unique risks.

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