Rumble To Allocate up to $20M for Bitcoin as Part of New Treasury Plan

Rumble, a video-sharing platform, has announced plans to allocate a portion of its cash reserves to Bitcoin, following recent hints from its CEO, Chris Pavlovski, on X. 

The company revealed on November 25th that its board of directors approved the strategy, allowing for investments in Bitcoin of up to $20 million, subject to the company’s discretion.

Pavlovski first floated the idea on November 19th in a poll on X, which garnered significant support, with 93.9% of 43,790 respondents voting in favor of adding Bitcoin to the company's balance sheet.

The timing of Rumble’s initial Bitcoin purchase remains uncertain, as the company stated that it will depend on management's evaluation of market conditions, Bitcoin’s price, and the platform’s cash needs.

In a statement, Pavlovski expressed confidence in Bitcoin’s long-term potential. 

“We believe that the world is still in the early stages of the adoption of Bitcoin, which has recently accelerated with the election of a crypto-friendly US presidential administration and increased institutional adoption,” he said. 

He also highlighted Bitcoin’s resistance to inflation, noting its independence from government monetary policies and describing it as “a valuable inflation hedge and an excellent addition to our treasury.”

While Rumble emphasized its commitment to Bitcoin as part of its strategic planning, it also reserved the right to alter or discontinue the investment strategy at any time. 

The company described the move as a step toward accelerating its involvement in asset.

The announcement appeared to boost investor sentiment, as Rumble’s stock (RUM) surged 12.63% during the trading session to close at $7.31, and continued to climb by 5.47% to $7.71 in after-hours trading.

Known for its more flexible approach to content moderation, Rumble has approximately 67 million monthly active users. 

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