Rumble invests $20M in Bitcoin as treasury strategy

Rumble, the online streaming platform, has announced a new treasury strategy to invest up to $20 million in Bitcoin (CRYPTO:BTC), reflecting the company’s belief in the cryptocurrency’s role as an inflation hedge and a strategic asset.  

According to an official press release, the Board of Directors approved the decision to diversify Rumble’s cash reserves.  

CEO Chris Pavlovski emphasized the growing institutional adoption of Bitcoin and the favorable U.S. political climate for cryptocurrencies as key reasons behind the move.  

“Bitcoin is not subject to dilution through endless money-printing, enabling it to be a valuable inflation hedge and an excellent addition to our treasury. We are also excited to strengthen our ties with crypto and to bolster our efforts to become the leading video and cloud services platform for the crypto community,” Pavlovski stated.  

The timing and scale of Bitcoin purchases will be decided by Rumble’s management, based on factors such as market conditions, Bitcoin’s price, and the company’s future cash requirements.  

The allocation strategy remains flexible, with management reserving the right to adjust or suspend it if necessary.  

This move aligns Rumble with a growing trend among businesses incorporating Bitcoin into their treasury strategies.  

The company joins others, including Jiva Technologies and Hoth Therapeutics, which have also approved Bitcoin investments recently, citing its “inflation-resistant” qualities.  

Following Rumble’s announcement, its stock price surged over 12%, reflecting investor confidence in the decision.  

At the time of reporting, the Bitcoin (BTC) price was $97,750.92.