The mostcurrent filing with the SEC has exposed that Reddit hasactually offered the bulk of its cryptocurrency portfolio throughout the 3rd quarter, offloading Bitcoin and Ethereum assoonas held “for treasury functions.”
When the social media business submitted for an preliminary public offering in February, the business held an “immaterial” quantity of crypto on its balance sheet, acquiring digital properties utilizing excess money. On Tuesday, Reddit utilized the exactsame language to explain continues from the current sale.
“We offered the bulk of our cryptocurrency portfolio, which consisted mostly of Bitcoin and Ether,” Reddit specified. “The internet bring worth of our cryptocurrencies, as well as the gain acknowledged on sale, was immaterial.”
Reddit Misses Out On BTC Gains
While the quantity of cryptocurrency offered is not revealed, the sale taking p