Rumble announced on March 12 that it purchased Bitcoin at average cost for each rolling coin as the latest iteration of its multifaceted approach to incorporating crypto into its business.
CEO Chris Pavlovski has announced that Rumble is intended to buy up to $20 million in Bitcoin. Rumble made its first purchase on January 20th, President Trump’s inauguration day, but did not disclose the total purchase amount.
“The actual timing and value of additional Bitcoin purchases, if any, will be determined by management at its discretion,” Rumble said. The company also revealed that “the Bitcoin allocation strategy could be changed, suspended or suspended at any time.”
Depending on the market situation, the company will be able to continue purchasing Bitcoin for its cash needs.
“These holdings can serve as valuable hedges against inflation and are not subject to dilution like many currencies that the government has overissued,” Pavlovski said. “We are proud to be able to officially retain Bitcoin as we continue to grow and continue to engrave the code into our company’s DNA.”
Rumble is even stronger in supporting crypto ambitions with $775 million from Tether, the world’s largest Stablecoin publisher, with $775 million worldwide. Of this funding, $250 million will be split into growth initiatives, including Rumble Cloud Services.
Earlier this year, on January 10th, the company signed a cloud services agreement with the government of El Salvador. It also includes the true social of Donald Trump’s social media app.
Bitcoin and other cryptocurrencies have plummeted sharply since the post-election rally as the New Trump administration’s proposed recession and macroeconomic fears of inflation have fallen to the point of being a victim of the recession from the tariffs and the macroeconomic fear of inflation.
Nevertheless, institutional Bitcoin adoption remains strong. As a sign of approval for companies that recognized Bitcoin as a financial asset, Rumble has now joined the ranks of large companies like Metaplanet, who have chosen to hold Bitcoin at the Treasury Department.