Rumble makes its first Bitcoin purchase
Rumble makes its first Bitcoin purchase, plans to expand crypto holdings
Video streaming platform Rumble, a competitor to YouTube, has officially entered the cryptocurrency space by acquiring Bitcoin (BTC).
Rumble CEO Chris Pavlovski announced the purchase on January 17, hinting that the platform plans to increase its Bitcoin holdings in the future, reports Bitcoinist.
Rumble’s Bitcoin Strategy
Pavlovski did not disclose the exact amount of Bitcoin purchased but emphasized the company’s commitment to incorporating BTC into its treasury. The move aligns with Rumble’s growing interest in cryptocurrency, first hinted at in November 2024 when Pavlovski conducted a poll on X. With over 39,000 participants, the majority supported the idea of adding Bitcoin to Rumble’s balance sheet.
In December 2024, Rumble allocated $20 million for Bitcoin purchases, describing the asset as a “valuable tool for strategic planning.” This latest purchase marks the platform’s first step in executing its crypto treasury strategy.
Stock Market Reaction and Industry Momentum
Rumble’s stock (RUM) surged 5.31% at the end of last week’s trading. With markets closed on January 15 for Martin Luther King Jr. Day, RUM could see further gains as trading resumes.
The announcement follows a trend of corporations adopting Bitcoin for treasury diversification, a practice gaining traction after the 2024 approval of spot BTC ETFs by the US Securities and Exchange Commission (SEC). Industry leaders, including MicroStrategy’s Michael Saylor, have been vocal proponents of Bitcoin as a strategic asset.
2025: A Year of Bitcoin Growth?
The momentum behind Bitcoin adoption is expected to accelerate in 2025. The election of pro-crypto US President Donald Trump has reignited discussions about establishing a US Bitcoin strategic reserve. If implemented, such a reserve could cement Bitcoin’s status as a trusted store of value and trigger widespread corporate and institutional adoption.
Rumble’s embrace of Bitcoin not only underscores the asset’s appeal but also signals a broader shift in how corporations approach financial strategy in the digital age.
Recently we wrote, that Tether, the largest player in the digital asset industry, has announced a strategic investment of $775 million in Rumble, a leading video-sharing and cloud services platform.
