Reddit, a popular social media platform, has been purchasing Bitcoin and Ethereum using its extra funds and has invested in an unspecified amount of these cryptocurrencies for potential returns. The details of Reddit’s cryptocurrency holdings were disclosed in its IPO prospectus submitted to the SEC on February 22. After much speculation, the company has finally filed to go public. The specifics regarding the number of shares to be sold and the price range for the offering have not been disclosed. Nevertheless, anticipate this to be one of the leading technology initial public offerings of the year, with a significant focus on cryptocurrency presence. The document specifies that Reddit’s investments in cryptocurrency are limited to Bitcoin and Ethereum, which are well-known and established in the crypto industry. The company’s new decision to invest in cryptocurrencies came as a surprise given their previous cautious attitude towards crypto. Reddit’s board of directors has approved an investment policy that focuses on minimizing risks by investing only in cryptocurrencies that are not considered securities by regulatory bodies. The filing did not reveal the amount of Bitcoin and Ethereum held by the company or how long they have been purchasing them. While the disclosed crypto holdings are primarily for treasury purposes, Reddit also mentioned acquiring Ether and Matic for virtual goods sales. It stated that the sums were “insignificant” in recent years. The submission recognizes the risks that come with cryptocurrencies, such as price fluctuations, cybersecurity risks, and possible regulatory modifications. It also draws attention to the accounting difficulties that arise from categorizing cryptocurrencies as intangible assets with indefinite lives, as well as the imminent alterations in accounting regulations regarding digital infrastructure. Reddit’s initial public offering document suggested a desire to incorporate blockchain technology into its wide-ranging platform of online communities and conversations.