The Rumble video sharing platform has announced the purchase of 188 Bitcoin (BTC) for $ 17.1 million. The acquisition was performed at an average price of $ 91,000 per Bitcoin, making it part of the company’s largest strategy to integrate digital assets into its financial structure.
The Rumble decision to add Bitcoin to its public budget is in line with its previously announced plan to allocate up to $ 20 million to the leading cryptocurrency. The company BTC sees as a long -term asset with the possibility of working as protection against inflation and highlighting traditional currencies whose value can be reduced through excessive version.
“This step reflects the company’s belief in the role of Bitcoin as a stable and flexible origin. in press releaseHe referred to:
We are excited to announce these purchases and customize Bitcoin as part of our treasury strategy as well as a greater strategic step as we expand our relationships with the encryption industry. These holdings have the ability to work as a valuable hedge against inflation and will not be reduced as many currencies printed in the government.
The company indicated that any purchases in the future Bitcoin will depend on market conditions, pricing trends and internal financial considerations.
Rumble’s participation in Bitcoin comes at a time when institutional demand is directed at Bitcoin, even sometimes when the market gets a significant volatility.
More companies (and even countries) are looking to add bitcoin to treasury bonds. Bitcoin’s recent acquisitions include those written by Ming Sing, which recently bought BTC for $ 27 million recently. Likewise, the sovereign wealth fund in Norway, NBIM, has grown 153 % throughout the year.
The Japanese company Metaplanet recently revealed its plans to increase Bitcoin’s possessions to 10,000.
The market reaction was mixed to the purchase of Bitcoin Rumble. While the company’s shares initially witnessed a slight decline, it has recovered in pre -market trading, according to data from Google Finance.
