BITCOIN - Rumble invests in Bitcoin: up to $20 million to diversify treasury

Rumble, the video platform with around 67 million monthly users, is preparing to enter in #Bitcoin. The board of directors has approved a strategy to allocate a portion of its cash reserves into Bitcoin, with a maximum investment of $20 million.

The initiative, announced by CEO @chrispavlovski through a poll on X that received 93.9% support, represents a strategic move to diversify the company’s financial resources.

Pavlovski explained the decision by highlighting the advantages of Bitcoin as an inflation hedge:

“Unlike any government-issued currency, Bitcoin is not subject to dilution through endless money-printing, enabling it to be a valuable inflation hedge and an excellent addition to our treasury.”

Following the announcement, Rumble’s stock rose by 12.63% during the trading session.

The company clarified that the implementation of the strategy remains flexible and can be suspended or modified at any time based on market conditions and business needs.

https://atlas21.com/rumble-invests-in-bitcoin-up-to-20-million-to-diversify-treasury/