Rumble

Thomas

Bitcoin

Million

Genius

<div class="intro-text"> 
 Rumble, the video-sharing and cloud services platform,<a style="color: #0000ff;" href="https://corp.rumble.com/blog/rumble-announces-bitcoin-treasury-strategy/"> revealed</a> that its board has approved a plan to diversify its corporate treasury.&nbsp; 
</div> 
The strategy includes allocating up to 20 million from its excess cash reserves into Bitcoin, highlighting the company’s growing interest in the cryptocurrency. 
The Florida-headquartered public company stated that the decision is intended to accelerate Rumble’s expansion into the cryptocurrency sector. It added that the allocation strategy will involve purchases of up to 20 million at the company’s discretion. 
Rumble CEO and Chairman Chris Pavlovski cited the increasing adoption of Bitcoin, fueled by institutional interest and recent political developments in the U.S., as significant factors behind the decision. He emphasized that Bitcoin, “unlike any government-issued currency,” cannot be “diluted through endless money-printing,” describing this characteristic as making it a “valuable inflation hedge […].” 
The timing of Rumble’s Bitcoin purchases remains uncertain, as the cryptocurrency faces challenges surpassing the<a style="color: #0000ff;" href="https://www.binance.com/en/square/post/16714374228777"> $100,000 milestone</a>. However, the company emphasized that its strategy is flexible and may be adjusted, paused, or discontinued at any point. 
Rumble’s decision aligns with a growing trend among public companies adopting Bitcoin for its potential as a store of value and an inflation-resistant asset. Recently, Singapore-based Edutech firm Genius Group<a href="https://defi-planet.com/2024/11/genius-group-launches-podcast-to-guide-firms-on-bitcoin-treasury-strategies/"> launched</a> a podcast addressing the lack of frameworks for adopting a Bitcoin-first strategy.&nbsp; 
CEO Roger Hamilton, alongside board members Thomas Power and Ian Putter, discussed the company’s vision to become an AI-driven, blockchain-based public entity. Inspired by MicroStrategy’s Bitcoin treasury approach, Hamilton stated, 
<blockquote>
 “The only vehicle that will outperform Bitcoin in the long run are companies that add value on top of a Bitcoin balance sheet.”
</blockquote> 
Meanwhile, U.S.-based Solidion Technology also<a style="color: #0000ff;" href="https://defi-planet.com/2024/11/solidion-technology-to-allocate-60-of-treasury-surplus-to-bitcoin-investments/"> announced</a> plans to allocate over 50% of its surplus cash reserves to Bitcoin, describing it as a “secure store of value”, an inflation hedge, and a mechanism to maximize shareholder value. 
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The post <a href="https://defi-planet.com/2024/11/rumble-board-approves-20-million-bitcoin-investment-strategy/">Rumble Board Approves $20 Million Bitcoin Investment Strategy</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Rumble Board Approves $20 Million Bitcoin Investment Strategy

DeFi Planet

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