Rumble, a video-sharing platform supported by Tether, has successfully made its first acquisition of Bitcoin, two months after designating it as a strategic reserve asset. CEO Chris Pavlovski announced the purchase on January 20, emphasizing that this is just the beginning of Rumble’s plan to bolster its Bitcoin holdings. The amount purchased remains undisclosed, but Rumble has previously announced intentions to invest $20 million into Bitcoin, citing its potential as a hedge against inflation. As more companies embrace Bitcoin for their treasuries, Rumble joins a growing trend where both public and private firms are integrating the leading cryptocurrency into their financial strategies.
Rumble, a video-sharing platform backed by Tether, has recently made headlines with its first Bitcoin purchase. This acquisition comes just two months after the company designated Bitcoin as a strategic reserve asset. Rumble’s CEO, Chris Pavlovski, announced this significant move on January 20, revealing that the purchase occurred on January 17. Although the amount of Bitcoin acquired is undisclosed, Pavlovski indicated that this is just the beginning of a larger strategy to enhance Rumble’s Bitcoin holdings.
This move aligns with Rumble’s broader vision for cryptocurrency. In November 2024, the company disclosed plans to invest around $20 million in Bitcoin, showing strong confidence in the asset’s long-term potential. Pavlovski emphasized that Bitcoin adoption is still in its early stages, supported by favorable policies and rising institutional interest. He also pointed out that Bitcoin offers a hedge against inflation, making it a valuable asset for the company’s treasury.
Rumble, with 67 million active monthly users, is recognized for its lenient content moderation policies. In December, Tether made a significant investment of over $775 million in the platform, further solidifying the partnership.
Rumble’s Bitcoin acquisition reflects a growing trend among various corporate firms adopting digital assets as part of their treasury strategies. According to Bitcoin Treasuries, over 70 publicly traded companies collectively hold around 600,000 BTC, with MicroStrategy leading the way with 450,000 BTC. Additionally, private companies like SpaceX and Tether have accumulated significant Bitcoin holdings, totaling over 407,000 BTC.
Market experts, like Matthew Hougan from Bitwise, believe this trend is not a one-time event but part of a larger “megatrend” that could redefine the cryptocurrency landscape. This shift is partly attributed to new accounting rules allowing firms to record Bitcoin at Market value, promoting its use as a corporate asset.
As Rumble continues to invest in Bitcoin, it joins a growing list of companies recognizing the digital asset’s benefits as a long-term investment and inflation hedge.
Tags: Rumble, Bitcoin acquisition, cryptocurrency, Tether-backed, corporate strategy, inflation hedge, digital asset adoption, Chris Pavlovski.
What is Rumble’s first Bitcoin purchase?
Rumble recently made its first purchase of Bitcoin. This means they are investing in cryptocurrency as part of their financial strategy.
Why is Rumble buying Bitcoin?
Rumble sees Bitcoin as a valuable asset. By investing in it, they aim to potentially increase their revenue and diversify their financial holdings.
Will Rumble buy more cryptocurrency in the future?
Yes, Rumble hinted at buying more cryptocurrencies in the future. This suggests they are planning to expand their investments beyond just Bitcoin.
How might Rumble’s Bitcoin purchase affect its business?
Rumble’s Bitcoin purchase could enhance its financial stability. If the value of Bitcoin rises, it might provide extra funds for future projects or acquisitions.
What are the benefits of Rumble investing in Bitcoin?
Investing in Bitcoin can provide Rumble with several benefits, such as increased Market presence, potential profit from rising Bitcoin prices, and added credibility in the tech and finance sectors.
