- Rumble becomes the 42nd largest public Bitcoin holder with a $17.1M BTC purchase, showcasing a strategic move to strengthen its ties to the cryptocurrency industry
- CEO Chris Pavlovski highlights Bitcoin as a hedge against inflation, part of Rumble’s broader treasury diversification strategy aimed at embedding crypto into its corporate identity
- Rumble’s cryptocurrency reserve initiative, launched last November, allows the company to allocate up to $20M to Bitcoin
Microstrategy’s success with its Bitcoin acquisition plan has led other institutional investors to also look kindly towards owning a digital asset reserve.
This week, streaming platform Rumble announced a major BTC purchase — instantly adding the firm to the rankings of largest Bitcoin holdings by a public company. In a press release published on GlobeNewsWire, Rumble announced a 188 BTC acquisition.Â
Rumble spent around $17.1 Million on the investment, with an average Bitcoin price of $91,000. The purchase catapulted the streaming and cloud-service platform to become the 42nd largest Bitcoin reserve among publicly traded companies.
Rumble’s Chairman and CEO, Chris Pavlovski, emphasized that the company’s Bitcoin acquisition is part of its broader treasury strategy and reflects a significant step in strengthening ties to the crypto industry.
Pavlovski highlighted that these Bitcoin holdings could act as a valuable hedge against inflation, contrasting them with “overprinted government-issued currencies” that are subject to dilution. As a leading platform providing video and cloud services to the crypto community, Rumble aims to further embed crypto into its “company’s DNA,” aligning its vision with the growing adoption of digital assets.
Rumble had initially turned to the idea of a cryptocurrency reserve in November of last year. At the time, the company introduced a treasury diversification strategy — aimed at allocating a portion of its excess cash reserves to Bitcoin.Â
The plan, approved by Rumble’s Board of Directors, was designed not only as a strategic financial hedge against inflation but also as a way to deepen the company’s integration into the cryptocurrency landscape. The strategy allowed Rumble to purchase up to $20 million worth of Bitcoin at management’s discretion, considering market conditions, the price of Bitcoin, and the company’s cash requirements.
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