Among today’s Bitcoin news, the announcement by Rumble stands out with its new strategy of purchasing BTC as a corporate reserve. In the plan, the video sharing company and cloud service provider stated its intention to purchase bitcoin for 20 million dollars.
Bitcoin News: Rumble implements the strategy of purchasing BTC as a corporate reserve
Rumble, video platform for rights management, will spend up to 20 million dollars to purchase Bitcoin (BTC) as a corporate reserve.
“BREAKING: Rumble announces the Bitcoin treasury strategy “Rumble’s Bitcoin allocation strategy will include purchases, at the company’s discretion, of up to 20 million dollars.”
In practice, the Board of Directors of Rumble has approved a strategy for diversifying the company’s treasury that involves allocating a portion of the company’s excess cash reserves into Bitcoin.
This strategy involves purchasing bitcoin at the company’s discretion, up to the equivalent of 20 million dollars.
The company wants to emphasize its confidence in BTC as a valuable tool for strategic planning and aims to accelerate its expansion in the crypto sector.
Bitcoin News: Rumble and the trust in BTC and the crypto sector
Chris Pavlovski, CEO of Rumble, expressed his opinion on the matter, highlighting how with the new US presidential administration favorable to crypto and the increase in institutional adoption, it will increase the adoption of Bitcoin more and more.
Here are his words:
“We believe that the world is still in the early stages of Bitcoin adoption, which has recently accelerated with the election of a U.S. presidential administration favorable to cryptocurrencies and with the increase in institutional adoption. Unlike any other currency issued by a government, Bitcoin is not subject to dilution through endless money printing, which makes it a valid hedge against inflation and an excellent addition to our treasury. We are also excited to strengthen our ties with cryptocurrencies and to enhance our efforts to become the leading video and cloud services platform for the cryptocurrency community”
Also on X, Pavlovski announces Rumble’s new strategy, emphasizing that it is the company’s entry into a new era linked to Bitcoin. Here is what he wrote:
“Rumble $RUM announces the Bitcoin Treasury strategy. I wasn’t joking when I said I would focus on the crypto and gaming communities. It’s a new era.”
The example of success of MicroStrategy
Commenting on Pavlovski’s post on X, Michael Saylor, founder and chairman of MicroStrategy, also stepped in, congratulating on Rumble’s new Bitcoin Treasury strategy.
On the other hand, the famous bitcoin maximalist of Saylor is well known for his Bitcoin accumulation strategy with his Business Intelligence company, achieving more and more successes.
In fact, MicroStrategy (MSTR) has recorded a spectacular growth of 600% in 2024, driven precisely by its investment strategy in BTC. Now the psychological threshold for MSTR is $500, while BTC is trying to surpass its threshold of $100,000.
Source: https://en.cryptonomist.ch/2024/11/26/bitcoin-news-rumble-will-also-buy-20-million-dollars-of-btc-as-a-corporate-reserve/