Nikolas Sargeant
Video-sharing platform Rumble is diversifying its corporate treasury by investing in Bitcoin. The company's Board of Directors approved a strategy to allocate up to $20 million in cryptocurrency reserves.
CEO and Chairman Chris Pavlovski initially floated the idea through a poll on X (formerly Twitter) on November 19. The poll garnered 43,790 votes, with an overwhelming 93.9% of participants supporting the Bitcoin investment.
In a statement, Pavlovski articulated the strategic rationale behind the decision, highlighting Bitcoin's unique advantages over traditional currencies. "We believe the world is still in the early stages of Bitcoin adoption," he explained. "This has accelerated with a crypto-friendly U.S. administration and increased institutional interest."
Pavlovski emphasized Bitcoin's resilience against inflationary pressures, noting that unlike fiat currencies, the cryptocurrency is not subject to government money-printing mechanisms. This makes Bitcoin an attractive hedge for corporate treasuries seeking alternative investment strategies.
The new allocation strategy provides Rumble with financial flexibility, allowing the company to make Bitcoin purchases based on market conditions and business needs. The timing and value of acquisitions will be dynamically assessed, with the ability to modify or suspend the strategy as required.
Rumble joins a growing trend of companies integrating Bitcoin into their balance sheets. MicroStrategy, led by Michael Saylor, remains a prominent example, currently holding 331,200 Bitcoin valued at approximately $36 billion. Similarly, Bitcoin mining firm MARA Holdings recently announced plans to raise $700 million through convertible senior notes to acquire additional cryptocurrency.
This strategic move reflects the increasing mainstream acceptance of Bitcoin as a legitimate corporate treasury asset, signaling a potential shift in how companies approach digital currency investments.
