$BTC In a significant move underscoring the growing acceptance of digital assets among publicly traded companies, Nasdaq-listed online video platform Rumble has confirmed its substantial Rumble Bitcoin Holdings as of the end of the first quarter of 2024.

Rumble’s Reported Bitcoin Holdings Detailed

According to a recent financial filing reported by GlobeNewswire, Rumble held precisely 210.82 Bitcoin (BTC) on its balance sheet as of March 31, 2024. This cache of the world’s leading cryptocurrency was valued at approximately $21.3 million at the time, representing a notable allocation of the company’s treasury reserves.

Understanding the Strategy Behind Rumble’s Bitcoin Investment

This isn’t a spur-of-the-moment decision for Rumble. The company had previously announced its intentions in November of the previous year. At that time, Rumble publicly stated its plan to allocate up to $20 million of its cash reserves specifically to Bitcoin Investment. The stated rationale behind this strategic allocation was to act as a hedge against potential inflation, aiming to preserve the purchasing power of their capital in an uncertain economic climate.