MetaPlanet

Rumble

Bitcoin

Genius

Rumble, a video-sharing platform, is exploring the idea of adding Bitcoin to its balance sheet, prompting significant market activity. The company’s CEO, Chris Pavlovski, asked on X whether the firm should add BTC. The poll attracted many, with the majority saying “Yes.” 
Additionally, Rumble Inc (RUM) shares surged by 9% in after-hours trading on Nov. 19, reaching a high of $6.20. 
<h3 class="wp-block-heading" id="span-style-font-weight-400-bitcoin-advocates-back-rumble-s-potential-btc-move-span">Bitcoin advocates back Rumble’s potential BTC move</h3> 
Prominent Bitcoin advocates were quick to weigh in. Jack Mallers, CEO of Bitcoin payment firm Strike, agreed that Rumble should add Bitcoin to its balance sheet and noted he would gladly help if needed.&nbsp; 
Michael Saylor, chairman of <a href="https://x.com/saylor/status/1858945523258159169" rel="nofollow" target="_blank">MicroStrategy</a>, also offered to advise Pavlovski, who appeared receptive to the suggestion. 
The <a href="https://x.com/chrispavlovski/status/1858943901983498298" rel="nofollow" target="_blank">poll has garnered</a> strong support from the crypto community. <a href="https://x.com/chrispavlovski/status/1858977485310025888" rel="nofollow" target="_blank">37,516 </a>&nbsp;respondents have voted, with 93.8% saying yes and 6.2% have said no. 
According to <a href="https://www.google.com/finance/quote/RUM:NASDAQ" rel="nofollow noopener" target="_blank">Google Finance</a>, Rumble shares closed up 2.5% at $5.68 before peaking at $6.20 after hours. They eventually stabilized at $5.78, a 1.76% increase since the market close. 
<h3 class="wp-block-heading" id="span-style-font-weight-400-rumble-considers-bitcoin-adoption-as-it-expands-its-financial-footprint-span">Rumble considers Bitcoin adoption as it expands its financial footprint</h3> 
Headquartered in Florida and Ontario, Rumble operates a video-sharing platform known for its minimal content moderation. Its cloud services division also hosts Truth Social, the social media platform owned by Donald Trump. 
Rumble boasts 67 million monthly active users and went public on Nasdaq in September 2022. As of September 30, 2024, its balance sheet included approximately <a href="https://api.mziq.com/mzfilemanager/v2/d/2e1fc959-ad61-4cc5-9c93-6d71e81648f4/aabd4347-8876-9441-884c-2b57c5dc918d?origin=1" rel="nofollow noopener" target="_blank">$132 million</a> in cash, cash equivalents, and marketable securities. 
The company generated $25 million in revenue during Q3 2024, a 39% year-over-year increase. However, recent financial results missed analyst expectations, with revenue falling short by 14% and earnings per share (EPS) underperforming by 20%. 
If Rumble follows through, it will join a growing list of companies turning to Bitcoin this year. 
On November 18, artificial intelligence firm Genius Group implemented its “Bitcoin-first” strategy, acquiring 110 Bitcoin for $10 million. The company aims to allocate 90% of its reserves to Bitcoin. Similarly, Japan-based <a href="https://www.cryptopolitan.com/metaplanet-among-the-top-japanese-stocks/">MetaPlanet</a> purchased an additional $11.3 million worth of Bitcoin, bringing its total holdings to 1,142.2 BTC, per Bitcoin Treasuries data. 
Medical device manufacturer Semler Scientific recently increased its Bitcoin holdings, adding $17.7 million to reach 1,273 BTC. 
Rumble’s potential <a href="https://www.cryptopolitan.com/bitcoin-etf-options-increase-exposure/">Bitcoin</a> adoption highlights the cryptocurrency’s growing role as a reserve asset, even as companies in various sectors weigh the risks and rewards of holding digital currencies. 
From Zero to Web3 Pro: Your 90-Day <a href="https://www.cryptopolitan.com/crypto-career-launchpad-waitlist/?utm_source=cryptopolitan&amp;utm_medium=banner&amp;utm_campaign=ccl-waitlist-3" target="_blank">Career Launch Plan</a>

Rumble eyes Bitcoin for its balance sheet, stock soars in after-hours trading

Table of Contents

Cryptopolitan_News

Other articles published on Nov 20, 2024

Cardano Price Prediction: Will ADA Price Hit $1 Or Plunge Post 128% Rally?

Floki Inu Targets India with Major Marketing Push Before Coinbase Debut

MicroStrategy Raises $1.75 Billion for Bitcoin Acquisition

Truflation and LandX Partner to Bring Real-Time Indexed Agricultural Data On-Chain

Financial Expert Changes XRP and Solana Predictions For 2025 Because Of This

Bitcoin Hits $94,500 All-Time High While Crypto Market Drops 1% Today

Join our free newsletter for daily crypto updates!