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Rumble Announces First Bitcoin Purchase in Line With $20M Strategy
Rumble Announces First Bitcoin Purchase in Line With $20M Strategy
January 20, 2025
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Bitcoin is now a part of Rumble’s balance sheet.
The Bitcoin treasury strategy bug is spreading like wildfire and shows no signs of slowing. Among the firms that have caught this bug over the past year is the online video platform Rumble.
In November 2024, the firm announced a $20 million strategy following an interaction between its CEO, Chris Pavlovski, and perhaps patient zero of this Bitcoin treasury epidemic, MicroStrategy Chairman Michael Saylor. Now, the firm has announced its first purchase.
Rumble Takes a Bite of the Orange Pill
Bitcoin is now a part of Rumble’s balance sheet.
On Monday, January 20, Rumble CEO Chris Pavlovski disclosed that the firm had made its first Bitcoin purchase on Friday, January 17, in line with its $20 million treasury strategy. He suggested that this would be the first of many, though the exact amount purchased remains undisclosed at the time of writing.
On Friday, Rumble $RUM made its first ever purchase of Bitcoin $BTC.
It won’t be the last.
— Chris Pavlovski ☠️ (@chrispavlovski) January 20, 2025
In November 2024, the firm maintained that the timing and amount of Bitcoin purchases would be determined by management, considering several factors, including market conditions and its cash liquidity needs.
With the recently disclosed purchase, Rumble joins other public companies, like MicroStrategy, Semler Scientific, Marathon Digital, and Metaplanet, all actively pursuing a Bitcoin treasury strategy.
This strategy has typically led to increased interest in the stock of these companies, as investors regard them as potential Bitcoin proxies.
Rumble’s share price closed on Friday, January 17, at $12.90, nearly 4% higher than its opening price of $12.45. Still, the company’s gains are more likely related to the U.S. TikTok ban, which investors believe could shift attention to alternatives like Rumble.
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