Rumble Adds 188 Bitcoin to Corporate Treasury, Fulfilling $20 Million BTC Strategy

Popular video-sharing platform Rumble has announced a multimillion-dollar Bitcoin acquisition amid its ongoing expansion into the crypto sector.  In a press statement today, the company confirmed it had added 188 BTC to its corporate treasury. Notably, it acquired these tokens at an average price of $91,000 per BTC, amounting to a $17.1 million investment. With the prevailing price of Bitcoin at $82,000 at press time, it suggests Rumble orchestrated the acquisition several days ago, before today's announcement. https://twitter.com/thecryptobasic/status/1899826041557782801 This move aligns with the company's previously disclosed plan from November 2024 to allocate up to $20 million in Bitcoin. At the time, the company revealed its strategy to allocate excess cash reserves into BTC. With today's announcement, the firm is following through on its pledge to integrate crypto into its business model. Strategic Hedge Against Inflation Rumble views Bitcoin as a hedge against inflation, particularly given its adoption by institutions and the crypto-friendly U.S. presidential administration. In the press statement, Rumble's CEO, Chris Pavlovski, expressed excitement about the purchase, highlighting BTC's potential to hedge against inflation. "These Bitcoin holdings can serve as a practical hedge against inflation. It will be safe from dilution like overprinted fiat currencies," Pavlovski stated. As part of its broader strategy, the company aims to incorporate Bitcoin further into its corporate structure and build stronger ties with the crypto community. Future Bitcoin Purchases Contingent on Market Conditions While the company has reached its initial Bitcoin investment target, Rumble stated that future purchases will be contingent on market conditions, the price of Bitcoin, and the company's cash flow needs. The firm also noted that its Bitcoin allocation strategy could be suspended, discontinued, or modified at any time based on these factors.  Rumble’s move into crypto follows a notable investment from stablecoin issuer Tether. Last year, Tether took a $775 million stake in the company, purchasing over 103 million shares of Rumble. The deal boosted its stock by 76%. Shortly after, Rumble CEO Pavlovski suggested introducing a Bitcoin and USDT tipping feature for creators on the platform.