The post Rumble’s Bitcoin Treasury: A $20 Million Allocation appeared on BitcoinEthereumNews.com.

Rumble, a video-sharing and cloud services platform, is making a big move into crypto with a Bitcoin treasury strategy. The company plans to use its cash reserves to buy Bitcoin as a store of value and a hedge against inflation. This decision marks a major change for the $2 billion company and shows its dedication to connecting with the crypto and gaming communities. Rumble Joins Bitcoin Movement with $20 Million Allocation Strategy Rumble announced that its Board of Directors has approved using up to $20 million of its excess cash reserves to buy Bitcoin. The video-sharing and cloud services platform stated that these purchases will be made at the company’s discretion. “I wasn’t joking when I said I was going to be laser-focused on the crypto and gaming communities. It’s a new era,” Rumble CEO Chris Pavlovski said. Companies diversify their corporate treasury with Bitcoin to protect assets from currency devaluation and benefit from its potential long-term value growth. This trend has gained momentum among behemoth firms like MicroStrategy, which made headlines for its aggressive Bitcoin purchases. Rumble appears to be following suit, leveraging Bitcoin as a strategic asset to support its expansion. Pavlovski elaborated on Rumble’s Bitcoin treasury strategy, pointing out Bitcoin’s resistance to inflationary pressures caused by government monetary policies. “Unlike any government-issued currency, Bitcoin is not subject to dilution through endless money printing,” he explained. Rumble’s timing aligns with the broader adoption of Bitcoin, spurred by institutional interest and a crypto-friendly US presidential administration. However, Pavlovski noted that Rumble’s Bitcoin purchases would depend on market conditions, the cryptocurrency’s price, and the company’s financial needs. Dr. Disrespect’s $20 Million Deal: Opportunity vs. Risk In a parallel development, Rumble is making waves in the gaming sector by signing an exclusive $20 million deal with controversial streamer Dr. Disrespect. The…

---

Filed under: News - @ November 26, 2024 7:26 am