Rumble Takes the Bitcoin Plunge: A $20 Million Investment Marks New Financial Strategy
Rumble, Canada’s leading video-sharing platform with over 50 million users, has made its first Bitcoin purchase, investing $20 million as part of its financial reserve strategy. This move reflects the growing trend of public companies integrating Bitcoin into their financial portfolios. Following the announcement, Rumble’s stock surged by over 5%, joining companies like MicroStrategy, Semler Scientific, and Marathon Digital in adopting Bitcoin as a reserve asset.
Rumble’s CEO, Chris Pavlovski, discussed the strategy with MicroStrategy’s Michael Saylor in November 2024, and this purchase marks the first step in that direction. The company is also benefitting from significant investments, including a $775 million commitment from Tether. As Bitcoin’s popularity continues to rise, Rumble’s move positions it alongside other firms seeking to capitalize on Bitcoin’s growth.
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