Rumble, a video-sharing and cloud services provider, has purchased approximately 188 Bitcoin for $17.1 million as part of its corporate treasury diversification strategy. This acquisition, done at an average price of roughly $91,000 per Bitcoin, is aimed at solidifying Rumble's commitment to the crypto sector. CEO Chris Pavlovski believes Bitcoin can act as an inflation hedge, distinguishing it from traditional currencies. The move reflects Rumble's ambition to become a leading platform for the crypto community and a strong advocate for cryptocurrency adoption.
We are excited to announce these purchases and allocation of Bitcoin as part of our treasury strategy as well as a larger strategic move as we further expand our ties to the crypto industry.
We believe that the world is still in the early stages of the adoption of Bitcoin, which has recently accelerated with the election of a crypto-friendly U.S. presidential administration and increased institutional adoption.
Collection
[
|
...
]