Rumble allocates up to $20M for Bitcoin in treasury strategy

Video-sharing platform Rumble has announced plans to allocate up to $20 million of its cash reserves to Bitcoin (CRYPTO:BTC) as part of its new treasury strategy.  

The company’s board of directors approved the initiative, allowing management to make purchases based on market conditions and Bitcoin’s price.  

In a statement on November 25, Rumble Chairman and CEO Chris Pavlovski emphasised the platform’s belief in Bitcoin’s long-term value.  

“We believe that the world is still in the early stages of the adoption of Bitcoin, which has recently accelerated with the election of a crypto-friendly U.S. presidential administration and increased institutional adoption,” Pavlovski said.  

He highlighted Bitcoin’s resilience against inflation, noting that, unlike fiat currencies, it is not subject to dilution through excessive money printing.  

The announcement follows Pavlovski’s social media hints on November 20 regarding the company’s interest in Bitcoin.  

Rumble clarified that its allocation strategy could be adjusted, suspended, or terminated at any time, allowing flexibility in its approach to cryptocurrency investment.  

Rumble joins a growing list of companies adopting Bitcoin as a treasury asset, viewing it as a hedge against inflation and a strategic diversification of reserves.  

This move aligns with increasing institutional interest in Bitcoin, fueled by the broader adoption of digital assets and favorable market trends.  

At the time of reporting, the Bitcoin (BTC) price was $94,334.29.