Reddit Sells Majority of BTC and ETH Treasury Holdings Before October Rally, SEC Filing Reveals

Reddit has disclosed in an SEC filing that it sold the majority of its cryptocurrency portfolio, primarily consisting of Bitcoin (BTC) and Ethereum (ETH), before the significant price rally in October. The sale occurred during the three months ending September 30, 2024. This move resulted in Reddit missing out on the substantial gains experienced by Bitcoin in October, often referred to as 'Uptober' by the cryptocurrency community. The company sold off most of its BTC and ETH treasury holdings last quarter.

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