Video-sharing platform Rumble has confirmed the purchase of a cache of BTC for $17 million, joining a growing list of firms embracing the asset. The purchase follows a blueprint to allocate a chunk of its corporate treasury to Bitcoin back in 2024.<\/p>\n
Rumble Adds 188 BTC\u00a0 To Its Corporate Treasury For $17.1 Million<\/h2>\n
According to a press release, Rumble has purchased around 188 BTC to its treasury in line with its plans to diversify its holdings. Per the statement<\/a>, the video-sharing company splurged 17.1 million on the purchase at an average price of $91,000 per token.<\/p>\n Back in 2024, Rumble disclosed plans to allocate 20 million from its corporate treasury to pursue a Bitcoin accumulation strategy. With around $3 million left, there are plans that the company will continue to bolster its holdings at the discretion of management.<\/p>\n \u201cWe are excited to announce these purchases and allocation of Bitcoin as part of our treasury strategy as well as a larger strategic move as we further expand our ties to the crypto industry,\u201d said Rumble CEO Chris Pavlovski.\u201d<\/p>\n The latest purchase will serve as an inflation hedge for Rumble while confirming a broader push to embrace cryptocurrencies. President Trump\u2019s executive order for Strategic Bitcoin Reserve<\/a> is tipped to trigger increased corporate interest in BTC.<\/p>\n \u201cThese holdings have the potential to serve as a valuable hedge against inflation and will not be subject to dilution like so many overprinted government-issued currencies,\u201d added Pavlovski.<\/p>\n Rumble\u2019s decision to add BTC to its balance sheets comes on the heels of frenetic accumulation activity by corporations. Over 70 publicly listed firms are holding 650,000 BTC in their corporate treasuries, confirming rising institutional interest.<\/p>\n Strategy, with its impressive holdings, is raising $21 billion for BTC purchases<\/a> through share sales.\u00a0 MARA Holdings, Riot Platforms, and Metaplanet are steadily increasing the size of their Bitcoin holdings.<\/p>\n Aware of rising institutional interest, Bitwise OWNB ETF<\/a> will provide exposure to companies holding at least 1,000 BTC via an index strategy.<\/p>\n \u2713 Share:<\/p>\nCorporate Interest in BTC Rises To An All-Time High<\/h2>\n
![\"coingape\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"){kind=logo}
![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/d3c68c40d23261dc2cb9cf6f8f3be0c0?s=200&d=mm&r=g\"\/)
![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/d3c68c40d23261dc2cb9cf6f8f3be0c0?s=200&d=mm&r=g\")