Video Platform Rumble acquires around 188 Bitcoins for $17.1 million, with an average of $91,000 per coin.
This purchase is made as part of your Bitcoin (BTC) financial strategy. The company announced plans to allocate up to $20 million to Bitcoin, highlighting its desire to branch out into the cryptocurrency sector.
CEO Chris Pavlovski spoke about the alignment of Bitcoin's role as a hedge against inflation and Rumble's broader crypto-focused strategy.
“These holdings can serve as valuable hedges against inflation and are not subject to dilution like so many currencies that the government has overissued,” Pavlovsky said.
Known for its video sharing and cloud services, Rumble has established itself as a platform for the crypto community. The company said future Bitcoin purchases will depend on market conditions, Bitcoin prices and Rumble's economic needs.
Invest in Bitcoin as the Ministry of Finance
Rumble's transition to Crypto and Bitcoin reflects trends in public companies such as MicroStrategy and Marathon Digital, employing Bitcoin as part of its financial management strategy.
Last December, Tether invested $775 million in the platform, earning some of the funds designated as a growth initiative.
In addition to Crypto Investments, Rumble recently announced a cloud services partnership with the Salvadoran government, further strengthening its crypto ties.
