Rumble Announces Purchases of $17.1 Million in Bitcoin in Accordance with Previously Announced Bitcoin Treasury Strategy

[noumoe]

Rumble Announces Purchases of $17.1 Million in Bitcoin in Accordance with Previously Announced Bitcoin Treasury Strategy

Rumble, the video-sharing platform and cloud services provider, announced today that the company has added approximately 188 Bitcoin to its treasury at an average price of approximately $91,000 per coin, consistent with its previously announced Bitcoin treasury strategy to allocate up to $20 million to Bitcoin. This move further emphasizes Rumble’s conviction in Bitcoin as a valuable tool for strategic planning and reinforces the company’s expansion into cryptocurrency.

“We are excited to announce these purchases and allocation of Bitcoin as part of our treasury strategy as well as a larger strategic move as we further expand our ties to the crypto industry. These holdings have the potential to serve as a valuable hedge against inflation and will not be subject to dilution like so many overprinted government-issued currencies,” said Rumble Chairman and CEO Chris Pavlovski. “As a leading video and cloud services platform for the crypto community, we are proud to officially hold Bitcoin as we continue to grow and engrain crypto into our company’s DNA.”

https://www.globenewswire.com/news-rele ... ategy.html