Rumble, a Nasdaq-listed video platform, has invested around $17 million in Bitcoin.
Rumble has made a significant financial move by acquiring 188 BTC worth approximately $17 million.
Bitcoin, as a decentralized digital asset with a limited supply, is increasingly establishing itself as a viable alternative to traditional assets for businesses looking to preserve their value over the long term.
Rumble continues to invest in Bitcoin
Rumble is one of the latest listed companies to embrace cryptocurrency as a strategic tool for managing cash flow and adapting to new market realities.
Rumble's investment speaks to its commitment to technological innovation and reflects a long-term vision for the future of Bitcoin and its role in the global financial system. With this step, the company diversifies its assets and sends a clear message to its users, investors, and competitors. Rumble is ready to embrace the opportunities and challenges of digital finance.
Rumble's purchase of 188 BTC is the result of a carefully planned treasury strategy. The company has decided to continue integrating Bitcoin as part of its store of value, with the goal of protecting its capital against inflation and diversifying its assets.
In true Strategy fashion, Rumble took to X to inform users that it has allocated around $17 million for its Bitcoin acquisition, which follows the treasury strategy announced in November of last year.
PREPARE YOUR WALLET“The company added approximately 188 Bitcoins to its treasury, at an average price of approximately $91.000 per coin,” reads the statement shared on the social network.
Rumble has taken a long-term approach, similar to Strategy and other firms that have invested heavily in Bitcoin in recent years. Unlike traditional investors, the company isn't looking to make quick profits by purchasing Bitcoin, but rather to hold its holdings for an extended period.
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Bitcoin: A financial haven against inflation
Rumble's investment in Bitcoin is deeply influenced by the current global economic environment. In a context where inflation has eroded the purchasing power of traditional currencies, Bitcoin presents itself as an attractive alternative due to its limited supply and decentralized nature. These characteristics make it an asset resistant to government manipulation and excessive money printing.
Chris Pavlovski, President and CEO of Rumble. said:
"As a leading video and cloud services platform for the cryptocurrency community, we are proud to officially launch Bitcoin as we continue to grow and integrate crypto into the DNA of our company."
Pavlovski's statement underscores Rumble's commitment to innovation. By investing in Bitcoin, the company is demonstrating its willingness to embrace new technologies and explore new growth opportunities. This innovative approach could help Rumble differentiate itself from its competitors and attract a broader audience.
The corporate strategy behind the purchase of 188 BTC
The company has designed a comprehensive strategy to integrate Bitcoin into its corporate treasury. This strategy includes maintaining long-term holdings as a store of value and exploring potential future applications within the digital ecosystem.
This investment is expected to pave the way for Rumble to explore new ways of interacting with its users. For example, they could implement cryptocurrency-based payments or rewards within their platform, strengthening their bold commitment to the future of Bitcoin and digital finance.
Investing in cryptoassets is not fully regulated, may not be suitable for retail investors due to high volatility and there is a risk of losing all invested amounts.
