Rumble, a streaming platform that competes directly with YouTube, announced the approval of a strategic bitcoin (BTC) reserve, which involves allocating part of the company's excess cash reserves to BTC purchases. This platform, known for allowing greater freedom in terms of censorship, considers that bitcoin is “a valuable tool for strategic planning and is designed to accelerate the company's expansion into the currency,” as reported in an official statement from the company. Rumble's BTC allocation strategy will include purchases, at the company's discretion, of up to USD 20 million.
“We believe the world is still in the early stages of Bitcoin adoption, which has recently accelerated with the election of a crypto-friendly US presidential administration and increased institutional adoption,” said Chris Pavlovski, president and CEO. from Rumble, who recognizes some of the fundamental aspects of BTC, such as that “it is not subject to dilution through endless printing of money.” “Which allows it to be a valuable hedge against inflation and an excellent addition to our treasury,” he stated. The executive added that Rumble's goal is to “reinforce efforts to become the leading video and cloud services platform for the cryptocurrency community.” The company clarified regarding BTC purchases that “the actual timing and value” of these “will be determined by management at its discretion and will depend on several factors.” These include general market and business conditions, the trading price of BTC, and Rumble's anticipated cash needs. This announcement comes shortly after Pavlovski made a post on Saylor has implemented an aggressive BTC purchasing strategy since 2020, making his company one of the largest institutional holders of the digital currency.
This strategy includes the continued acquisition of BTC, leveraging both excess cash and financing through the issuance of convertible debt. To date, MicroStrategy has accumulated almost 400,000 bitcoin, positioning itself not only as a significant player in the cryptocurrency market, but also as a benchmark for corporate adoption of BTC as a store of value. Rumble is distinguished by its focus on adult content (no nudity) and allows the publication of material related to firearms, gore, violence (under certain conditions) and different points of view on political issues, thus offering an alternative to YouTube . In September, the government of El Salvador announced the launch of a TV program dedicated to freedom of expression that would air exclusively through Rumblereflecting the philosophy of the platform, as reported by BitcoinDynamic. The trend of using BTC as a strategic reserve is not unique to Rumble. In the last month, other companies such as Solidion Technology and Genius Group have also announced similar measures, along with states such as Florida and Pennsylvania, as reported in this medium. The recent election of Donald Trump, who has supported the idea of a strategic BTC reserve for the United States, has fueled this trend, although the community remains skeptical that the new president will fulfill this and other bitcoin-related promises. .
This article was created using artificial intelligence and edited by a human Editor.