The video-sharing platform Rumble, an alternative to YouTube with approximately 67 million active users monthly, has revealed plans to invest in Bitcoin
On November 25, Rumble’s board of directors gave the green light, allocating as much as $20 million of the platform’s surplus cash reserves to Bitcoin.
The actual amount and timing of purchases will be at the discretion of company leadership, influenced by factors such as the state of the cryptocurrency market, Bitcoin’s value, and the company’s cash flow requirements.
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The decision follows a poll on X, where Rumble CEO and chairman Chris Pavlovski asked followers if the company should include Bitcoin in its reserves. The response was overwhelmingly positive, with 93.9% of the 43,790 respondents voting in favor.
Pavlovski expressed optimism about Bitcoin’s role in the financial sector, citing its unique properties compared to traditional fiat currencies. He stated:
We believe that the world is still in the early stages of the adoption of Bitcoin, which has recently accelerated with the election of a crypto-friendly US presidential administration and increased institutional adoption.
This action shows Rumble’s commitment to embracing cryptocurrency as part of its strategy. The company stated that the initiative reflects its confidence in Bitcoin as a valuable asset and a tool to enhance its growth.
However, Rumble clarified that its Bitcoin allocation plan is not set in stone and may be paused, altered, or ended at any time depending on its financial priorities.
Rumble's Bitcoin strategy highlights the growing corporate shift toward cryptocurrency adoption. Meanwhile, Michael Saylor revealed plans to promote a Bitcoin strategy to Microsoft's board. How does he intend to make his case? Read the full story.
