- Rumble is investing up to $20 million of its excess cash reserves in Bitcoin.
- Following the announcement, Rumble’s stock surged 12.63%, reaching $7.31 per share.
While the flagship cryptocurrency Bitcoin is hitting new highs every day, Rumble, the popular video platform known for its conservative audience, is making a significant shift in its financial strategy by investing in Bitcoin. On Monday, the company’s Board of Directors approved a plan to allocate a portion of its excess cash reserves to buy leading cryptocurrency up to $20 million. This marks Rumble’s entry into the world of digital assets, signaling the growing corporate interest in Bitcoin as part of strategic financial planning.
BREAKING: Rumble Announces Bitcoin Treasury Strategy
“Rumble’s Bitcoin allocation strategy will include purchases, at the discretion of the company, of
up to $20 million.” pic.twitter.com/J40IuW1Nnp
— Rumble(@rumblevideo) November 25, 2024
Rumble CEO Chris Pavlovski expressed his belief in Bitcoin’s potential, calling it a valuable tool for both inflation hedging and long-term growth. “Bitcoin’s adoption is still in its early stages, and we believe it’s a valuable addition to our treasury,” Pavlovski said. He also pointed out that Bitcoin’s unique nature, free from government-controlled inflation, makes it an attractive asset for the company’s future plans.
Rumble Joins Crypto Trend Following Trump’s Bitcoin Support
Rumble’s decision comes amid growing institutional adoption of cryptocurrency and heightened interest following Donald Trump’s support of Bitcoin and his advocacy for pro-crypto policies.
However, Rumble has not yet decided on the timing or amount of its first Bitcoin purchase—citing market conditions and the platform’s financial needs. According to the report, the decision would be made by the management, considering factors such as Bitcoin’s price and broader market trends.
Anyways, this move puts Rumble alongside other companies, such as MicroStrategy, Metaplant, and MARA Holdings, that have already made Bitcoin a part of their financial portfolios, signaling a wider trend of corporate crypto adoption.
Further, with Trump pledging to make America a “crypto capital” post-2025 the U.S. could see even greater Bitcoin integration into its economy.
