On Nov 25th, the company announced its Board of Directors had approved a plan. They want to allocate a portion of their extra cash reserves to Bitcoin.
This move highlights the confidence from Rumble in Bitcoin as a powerful tool for strategic growth.
Rumble to Invest $20 Million in Bitcoin
Under the new strategy, Rumble plans to invest up to $20 million in Bitcoin. These purchases will happen at the company’s discretion, depending on factors like Bitcoin’s price, market conditions, and Rumble’s cash needs. According to Rumble Chairman and CEO Chris Pavlovski, the decision is rooted in their belief that Bitcoin is an inflation hedge and a strong asset for long-term value.
“We think the world is still in the early days of Bitcoin adoption,” said Pavlovski. “With a crypto-friendly U.S. presidential administration and growing institutional interest, Bitcoin’s momentum is picking up speed. Unlike traditional currencies, Bitcoin can’t be devalued by unlimited money-printing, making it a great way to protect against inflation.” Pavlovski also emphasized that this move aligns with Rumble’s goal of becoming the top video and cloud platform for the crypto community.
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’s strategy gives the company flexibility, meaning it can adjust or pause its Bitcoin purchases at any time. Management will decide when and how much to buy based on various factors, like market trends and business needs.
By allocating part of its treasury to Bitcoin, Rumble is not just joining the cryptocurrency wave—it’s doubling down on its belief in Bitcoin as the future of money. Whether this gamble pays off will depend on how Bitcoin performs in the long run, but one thing’s for sure: Rumble isn’t afraid to think big.
Disclaimer
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