Key Points:
- Rumble Acquires 188 Bitcoin – The company purchased Bitcoin at an average price of $91,000 per coin.
- Part of a $20M Crypto Strategy – The video platform aims to expand its presence in the crypto sector.
- Growing Crypto Ties – Rumble’s move aligns with other firms adopting Bitcoin, and it recently partnered with El Salvador on cloud services.
Rumble Buys 188 Bitcoin for $17.1M
Video-sharing platform Rumble has taken a major step into cryptocurrency, purchasing 188 Bitcoin for $17.1 million as part of its broader Bitcoin treasury strategy. The company paid an average of $91,000 per coin, reinforcing its commitment to integrating digital assets into its financial operations.
The move follows Rumble’s previously announced plan to allocate up to $20 million toward Bitcoin, signaling its belief in the long-term potential of the cryptocurrency.
Bitcoin as a Hedge Against Inflation
Rumble’s CEO, Chris Pavlovski, emphasized Bitcoin’s role as a safeguard against inflation, contrasting it with fiat currencies that face dilution due to excessive printing.
“These holdings have the potential to serve as a valuable hedge against inflation and will not be subject to dilution like so many overprinted government-issued currencies,” Pavlovski stated.
Rumble’s strategy mirrors the approach taken by public companies such as MicroStrategy and Marathon Digital, which have incorporated Bitcoin into their corporate treasury management.
Crypto Expansion & El Salvador Partnership
Beyond its Bitcoin investment, Rumble has deepened its involvement in the crypto ecosystem. Last December, Tether invested $775 million in the platform, with a portion of the funds designated for growth initiatives.
Additionally, Rumble recently announced a cloud services partnership with the government of El Salvador, further solidifying its role in the crypto-friendly landscape.
Looking ahead, Rumble has indicated that future Bitcoin purchases will depend on market conditions, Bitcoin’s price, and the company’s financial needs.
A Growing Trend Among Public Companies
Rumble’s Bitcoin acquisition highlights a growing trend among corporations looking to incorporate digital assets into their balance sheets. As more companies embrace Bitcoin as part of their financial strategies, Rumble’s move signals its commitment to long-term crypto adoption.
