Rumble Adds Bitcoin to Treasury with $20 Million Investment, Following MicroStrategy’s Lead
Rumble Inc., a video-sharing and cloud services provider listed on Nasdaq, announced that its board has approved a strategy to allocate up to $20 million of its cash reserves into Bitcoin.
This move reflects a growing trend of corporate Bitcoin adoption, similar to companies like MicroStrategy and Metaplanet Holdings.
Rumble’s diversification strategy highlights the company’s belief in Bitcoin as a hedge against inflation and a long-term store of value. “We believe that the world is still in the early stages of the adoption of Bitcoin,” said Rumble Chairman and CEO Chris Pavlovski.
Founded in 2013 by Pavlovski, Rumble allows users to upload, share, and monetize video content. It has gained popularity among conservative and right-wing users in the U.S. and is considered part of the “alt-tech” movement.
Rumble’s decision to allocate Bitcoin to its treasury adds momentum to the corporate adoption of digital assets, driven by rising inflation concerns and the increasing mainstream acceptance of cryptocurrency.
“Unlike any government-issued currency, 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,” Pavlovski stated.
The company’s move is similar to that of MicroStrategy, which has become a significant Bitcoin advocate since 2020, holding over $37.5 billion in Bitcoin as a superior store of value compared to cash. Metaplanet Holdings, founded by Skype co-creator Jaan Tallinn, has also integrated Bitcoin into its strategy for diversification and as an inflation hedge.
Rumble’s Bitcoin purchasing strategy will be guided by market conditions, Bitcoin’s price fluctuations, and the company’s liquidity needs. Pavlovski also noted that the strategy is flexible and could be adjusted or suspended if necessary.
