Rumble, a leading video-sharing platform and cloud services provider, has announced a strategic move to allocate a portion of its corporate treasury to Bitcoin. This marks a significant step in Rumble’s expansion into cryptocurrency, underlining its belief in Bitcoin as a valuable asset for long-term strategic planning.
In a statement, Rumble’s Chairman and CEO, Chris Pavlovski, explained the rationale behind the decision:
“We believe that the world is still in the early stages of Bitcoin adoption, 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.”
Bitcoin Allocation Strategy
Rumble’s diversification strategy will involve purchasing Bitcoin, with a cap of $20 million, using its excess cash reserves. The timing and extent of these purchases will depend on various factors, including Bitcoin’s market performance, overall economic conditions, and Rumble’s cash flow requirements.
The company has emphasized that this strategy is flexible and may be adjusted or discontinued at any time based on the discretion of its management team.
Strengthening Crypto Ties
The move is part of Rumble’s broader vision to strengthen its position within the cryptocurrency ecosystem. As Pavlovski noted, this initiative aligns with Rumble’s mission to be a leader in video and cloud services tailored to the crypto community:
“We are excited to bolster our efforts to become the leading video and cloud services platform for the crypto community.”
A Thoughtful Approach to Risk
Rumble acknowledged the inherent risks associated with Bitcoin investment, including its well-known price volatility. The company has carefully considered these risks and remains optimistic about Bitcoin’s potential as a hedge against inflation and a strategic addition to its treasury.
About Rumble
Rumble is a fast-growing video-sharing platform and cloud services provider committed to creating independent infrastructure. With a mission to restore the internet to its free and open roots, Rumble continues to expand its footprint in emerging technology spaces, including cryptocurrency.
Forward-Looking Statements
This announcement contains forward-looking statements, which include risks and uncertainties. These risks may impact the success of Rumble’s new strategy and broader business performance. For a detailed list of these risks, refer to the “Risk Factors” section of Rumble’s latest filings with the U.S. Securities and Exchange Commission (SEC).
