Rumble Invests $17.1M in Bitcoin, Strengthening Crypto Holdings
Nasdaq-listed video-sharing platform Rumble (NASDAQ: RUM) has reinforced its Bitcoin investment strategy by purchasing 188 BTC for $17.1 million. The acquisition was made at an average price of $91,000 per Bitcoin, the company confirmed.
This purchase is part of Rumble’s broader plan to allocate up to $20 million of its cash reserves to Bitcoin, reflecting its growing interest in digital assets. CEO Chris Pavlovski emphasized the move as a strategic hedge against inflation.
“Bitcoin’s scarcity and resistance to dilution make it a valuable asset compared to traditional government-issued currencies,” Pavlovski stated in a press release.
Rumble indicated that future Bitcoin acquisitions will depend on market trends, BTC’s price movements, and the company’s cash flow requirements. This investment follows stablecoin issuer Tether’s $775 million stake in Rumble late last year.
Despite the announcement, Rumble’s stock closed down 2.38% in the previous session but showed early signs of recovery, rising nearly 4% in pre-market trading to $8.10.























