Oh, jolly good show! The video-sharing platform Rumble has decided to add a touch of digital pizzazz to its treasury by investing a whopping $17.1 million in Bitcoin. Quite the strategic move, what?
Rumble Strengthens Treasury with Bitcoin
The Nasdaq-listed company has acquired 188 Bitcoin (BTC) at an average price of $91,000 per BTC. This move aligns with Rumble’s earlier commitment to allocate up to $20 million of its corporate reserves to Bitcoin. The company believes that this asset will serve as a hedge against inflation and macroeconomic uncertainty.
CEO Chris Pavlovski, in a press statement, said, “These holdings have the potential to serve as a valuable hedge against inflation and will not be subject to dilution like so many overprinted government-issued currencies.” Quite the tongue twister, old chap!
Crypto Integration Gains Momentum
Rumble’s Bitcoin purchase follows a $775 million investment from Tether, indicating a growing synergy between the platform’s creator-first technology and the digital asset economy. The integration positions Rumble among an increasing cohort of tech firms embracing decentralized assets as part of their financial infrastructure.
As for future Bitcoin acquisitions, the company confirmed that future purchases would depend on market conditions, internal cash flow dynamics, and Bitcoin price trends. Management retains the flexibility to scale or pause the strategy based on evolving circumstances.
User Support and Industry Attention
Rumble’s decision to incorporate Bitcoin into its balance sheet was foreshadowed in November 2024 when Pavlovski conducted a user poll on X (formerly Twitter), asking if the company should adopt Bitcoin. Over 93% of respondents voted in favor of the move. The poll also drew attention from MicroStrategy Chairman Michael Saylor, who is known for spearheading corporate Bitcoin adoption.
Strategic and Political Undercurrents
The timing of Rumble’s investment also reflects broader market and political dynamics. The move aligns with pro-business, deregulation-leaning policy frameworks expected under a potential Trump presidency. Rumble also operates as the cloud infrastructure provider for Truth Social, Donald Trump’s social media platform, further anchoring the company within a digital ecosystem increasingly aligned with crypto-friendly sentiment.
Shares of Rumble (RUM) closed down 2.38% in the previous trading session but climbed nearly 4% in pre-market activity, trading at $8.10, reflecting market interest in the company’s evolving digital asset strategy.
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2025-03-13 18:20