While institutional investors' interest in Bitcoin increases day by day, giant companies are announcing their BTC investment decisions one after another.
While company sales have increased following in the footsteps of the largest institutional investor MicroStrategy, the latest company to announce its BTC investment decision was video sharing platform and cloud services provider Rumble.
According to the official statement, Rumble announced its decision to allocate up to $20 million of its corporate treasury to Bitcoin.
In the statement, the company stated that it plans to allocate up to $20 million of its excess cash reserves to Bitcoin as part of its treasury diversification strategy.
Rumble highlighted Bitcoin’s potential as a hedge against inflation, while noting that increasing institutional adoption and moderate cryptocurrency regulations are accelerating institutional adoption of Bitcoin.
“…This move underscores Rumble’s belief in Bitcoin as a valuable tool for strategic planning.
Rumble's Bitcoin allocation strategy will include purchases of up to $20 million at the company's discretion.”
“We believe the world is still in the early stages of Bitcoin adoption,” said Chris Pavlovski, Chairman and CEO of Rumble. “This has been accelerated by the recent election of a crypto-friendly US presidential administration and increasing institutional adoption. Unlike any government-issued currency, Bitcoin is not subject to dilution through endless money printing, making it a valuable inflation hedge and a great addition to our treasury. We’re also excited to strengthen our ties to crypto and support our efforts to be the leading video and cloud services platform for the crypto community.”
*This is not investment advice.