🚀 Good news for crypto fans! Social media platform Reddit has apparently invested some of its “excess cash reserves” into several cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), as revealed in their S-1 filing with the Securities and Exchange Commission (SEC) on Thursday Then.

Here are the important points you need to know:

- Apart from BTC and ETH, Reddit also acquired Polygon (MATIC), one of the layer 2 tokens of the Ethereum network.

- The purpose of this investment is for use by Reddit's product and engineering teams in specific applications.

- Until December 31, Reddit only held BTC and ETH for treasury purposes, with the net value considered "immaterial".

- Reddit does not plan to invest in other cryptos unless they are identified as non-securities by federal regulators.

What do you think about Reddit's move? Do you agree with their investment choices? Come on, discuss it in the comments column! 😄