Rumble makes first Bitcoin purchase, hints at future acquisitions
Rumble, a Tether-backed video-sharing platform, has acquired Bitcoin for the first time, purchasing it on January 17. The amount remains undisclosed, but CEO Chris Pavlovski indicated this is part of a larger strategy to strengthen Rumble's Bitcoin holdings. The company plans to invest $20 million in Bitcoin, citing confidence in its long-term potential and resilience against inflation. Rumble has 67 million monthly active users and is known for its relaxed content moderation. Tether invested over $775 million in Rumble last December. The acquisition reflects a broader trend of corporate adoption of Bitcoin, with over 70 publicly traded companies holding around 600,000 BTC, led by MicroStrategy with 450,000 BTC. Bitwise's Chief Investment Officer describes this trend as a "megatrend," influenced by new accounting rules allowing firms to record Bitcoin at market value.
