Video-streaming platform Rumble has taken a major step in increasing its crypto portfolio. According to a post shared on X, the company has bought 188 Bitcoin for $17.1 million at an average of $91,000 per Bitcoin. This investment is part of Rumble’s new treasury strategy, with plans to allocate up to $20 million toward Bitcoin acquisitions. Rumble Strengthens Ties with the Crypto Community The Canada-based gaming and streaming company has built a reputation as a platform that supports decentralized technology. The company’s decision to add Bitcoin to its balance sheets shows its support for the crypto sector while diversifying its investments beyond traditional markets. Rumble’s CEO, Chris Pavlovski, explained that Bitcoin can help protect finance against inflation. He pointed out that, unlike regular money governments can print endlessly, Bitcoin has a fixed supply, making it a valuable alternative. The company also mentioned that it may buy more Bitcoin in the future, depending on market conditions, Bitcoin’s price, and its financial situation. The investment aligns with its broader push into cloud services and alternative media, where blockchain and digital assets are becoming increasingly relevant. Rumble’s latest Bitcoin comes after Senator Cynthia Lummis reintroduced the national Bitcoin reserves bill days after President Donald Trump signed an executive order to establish a digital asset stockpile. Rumble’s Stock Increases Amid Financial Implications After the announcement, Rumble’s stock (RUM) rose 2.7% in Nasdaq’s pre-market trading. However, some financial experts worry that Rumble bought Bitcoin when the price was too high. Right now, Bitcoin is trading at $82,664, which means Rumble’s investment is down by 10.33%, losing about $1.77 million in paper value. Despite this short-term, the company seems confident that Bitcoin will grow in value over time. A Growing Presence in Corporate Bitcoin Holdings With this purchase, Rumble is now the 40th largest company holding Bitcoin, according to the Bitcoin Treasuries tracker. Its Bitcoin now makes up 0.60% of its total market value, showing its strong interest in digital money. This move comes after Rumble received a $775 million investment from Tether , the company behind the USDT stablecoin, in December 2024. As Bitcoin and stablecoins become more important to its business, Rumble balances media, cloud technology, and crypto adoption. The post Rumble Purchases 188 Bitcoin: Details appeared first on TheCoinrise.com .
