Summary: After the recent valuation boom for Bitcoin several companies, industries and platforms have started investing in Bitcoin or use it as a financial reserve. Following this trend a Video-sharing platform widely known as Rumble has announced plans to allocate up to $20 million in Bitcoin as a part of its strategy to make its corporate treasury diverse and open a broader opportunity in crypto.
Rumble Embraces Bitcoin for Growth
The news of Rumble allocating up to $20 million of its reserves to bitcoin was revealed or said out in a blog post on Nov. 25. Chris Pavlovski, CEO of Rumble used Bitcoin’s current boom, it’s resistance nature against inflation including its independence from monetary polices as key reasons while going through with this decision. Rumble plans to position itself on a greater place in crypto space through these type of strategic investment.
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Flexible Investment Strategy
This strategic approach by Rumble is very flexible and came at the company’s discretion. The timing of this allocations strategy seems unclear as BTC has slowly started to slow down compared to past week but the company emphasized its ability to pause or modify the strategy as market condition evolve.
Part of a Broader Trend
Rumble isn’t the only company or enterprise to join allocate BTC in its business or make BTC as their financial reserves but Rumbles joins companies like MicroStrategy, Genius Group and Anixa Biosciences that are adding and integrating Bitcoin into their financial strategies. This recent trend shows the growing interest of institutions which reflects Bitcoin’s potential as a long-term asset and inflation hedge.
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