Rumble bets on Bitcoin as an inflation hedge with a new Treasury strategy

Rumble, the popular online streaming and video platform, announced that its Board of Directors has approved a plan to diversify the company’s treasury by allocating a portion of its surplus cash to Bitcoin.

As part of this new strategy, the company plans to invest up to $20 million in BTC, making purchases at its discretion.

Rumble approves Bitcoin investment strategy

According to the official press release, Rumble said that this move demonstrates the company’s belief in Bitcoin as a valuable tool for strategic planning and is expected to accelerate the platform’s expansion into cryptocurrency.

Chris Pavlovski, CEO and President of Rumble, cited the growing institutional adoption of Bitcoin and a “crypto-friendly” US presidential administration as important reasons for the latest decision. The executive added:

“Bitcoin is not subject to dilution through infinite money printing, which allows it to be a valuable inflation hedge and an excellent addition to our treasury. We are also excited to strengthen our ties to crypto and strengthen our efforts to become the leading cloud and video services platform for the crypto community.

Rumble said the timing and amount of Bitcoin purchases under the strategy will be determined by its management. This will depend on several factors, including market conditions, the price of Bitcoin, and the company’s future cash needs. The Allocation Strategy is subject to change, suspension or termination at management’s discretion for any reason.

Following the development, Rumble’s share price rose more than 12% in the last day, according to data from Google Finance.

Amid the market rally following Donald Trump’s presidential victory, several companies have chosen to invest in Bitcoin. The company is now part of the growing trend of companies incorporating Bitcoin into their corporate treasury strategies.

Growing trend of institutional adoption

Plant-based wellness and e-commerce company Jiva Technologies also joined the trend after receiving board approval for a Bitcoin investment strategy worth up to $1 million . In a similar sentiment to Rumble’s CEO, Jiva CEO Lorne Rapkin highlighted the potential for a favorable regulatory landscape and greater institutional adoption as key factors in the decision.

In the last ten days, two companies have made similar moves. Biopharmaceutical company Hoth Therapeutics allocated up to $1 million in Bitcoin, citing the cryptocurrency’s “inflation-resistant” properties. AI firm Genius Group also followed suit, investing $10 million to buy 110 BTC for its treasury reserves.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 on Binance (full details).

LIMITED OFFER for CryptoPotato readers on Bybit – Use this link to register and open a FREE $500 position with any currency!