Rumble’s Bitcoin Bet Grows with $17M Purchase Shalini Nagarajan | usagoldmines.com

Rumble, the video-sharing platform known for its free-speech stance, has made a bold move into Bitcoin as the asset’s price hovers around $80,000.

On Wednesday, the company announced it had acquired 188 Bitcoin for about $17m at an average price of $91,000 per coin. This purchase aligns with its strategy to allocate up to $20m toward Bitcoin as part of its corporate treasury.

Rumble Chairman and CEO Chris Pavlovski framed the move as a hedge against inflation and a stand against currency dilution, which has plagued traditional government-issued money.

“These holdings have the potential to serve as a valuable hedge against inflation and will not be subject to dilution like so many overprinted government-issued currencies,” he said.

He added that integrating Bitcoin into Rumble’s financial strategy reflects the company’s broader commitment to cryptocurrency.

“We are proud to officially hold Bitcoin as we continue to grow and engrain crypto into our company’s DNA,” he added.

Rumble’s Bitcoin Pivot Backed by Overwhelming User Support

While Rumble has now taken a definitive step into Bitcoin, its interest in the cryptocurrency dates back several months. In November, Pavlovski polled users on X, asking whether Rumble should add Bitcoin to its balance sheet. The response was overwhelming—more than 93% of respondents voted in favor.

The decision to invest heavily in Bitcoin follows a broader shift among alternative tech platforms toward decentralized assets. Notably, Michael Saylor, chairman of MicroStrategy, a company renowned for its massive Bitcoin holdings, took notice. After the poll, he offered to discuss the process with Pavlovski, who appeared receptive to the idea.

Political Winds Favor Rumble’s Crypto Bet

Rumble’s embrace of Bitcoin comes at a pivotal moment in both financial markets and US politics. The move aligns with the pro-business, deregulatory approach associated with the Trump presidency, which is anticipated to take a more hands-off stance on cryptocurrency regulation compared to the Biden administration’s more active oversight.

Rumble’s decision is also significant because of its ties to Truth Social, the social media platform owned by Donald Trump. Rumble’s cloud services power Truth Social, making the company a key player in the digital ecosystem favored by Trump’s supporters.

Although Rumble has set a $20m ceiling for its Bitcoin investment, future purchases will depend on market conditions, Bitcoin’s price and the company’s cash flow needs. The firm has left the door open to modifying or pausing its Bitcoin strategy at any time.

The post Rumble’s Bitcoin Bet Grows with $17M Purchase appeared first on Cryptonews.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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