Rumble announces bitcoin treasury strategy

Rumble (RUM) announced that its Board of Directors has approved a corporate treasury diversification strategy of allocating a portion of the company’s excess cash reserves to Bitcoin (BTC). This move emphasizes Rumble’s belief in Bitcoin as a valuable tool for strategic planning and is designed to accelerate the company’s expansion into cryptocurrency. Rumble’s Bitcoin allocation strategy will include purchases, at the discretion of the company, of up to $20M. “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 U.S. presidential administration and increased institutional adoption. Unlike any government-issued currency, Bitcoin is not subject to dilution through endless money-printing, enabling it to be a valuable inflation hedge and an excellent addition to our treasury,” said Rumble Chairman and CEO Chris Pavlovski. “We are also excited to strengthen our ties with crypto and to bolster our efforts to become the leading video and cloud services platform for the crypto community,” Pavlovski added.