Reddit has disclosed in its IPO filing that it has invested part of its excess cash into Bitcoin ($BTC), Ethereum ($ETH), and Polygon ($MATIC). This move positions Reddit alongside companies like Tesla in diversifying its treasury holdings with cryptocurrency investments. The social media platform's decision to go public has sparked discussions around its potential to become a meme stock, especially considering its mention of r/wallstreetbets in the S-1 filing five times. Concerns have been raised about the impact of a meme stock resurgence on investor sentiment towards Reddit's IPO. Additionally, Reddit is offering its users the opportunity to purchase stock at the same price as institutional investors during the IPO. This strategy aims to engage the platform's power users by providing them with a financial incentive to use and promote the site.