Publicly listed Rumble Inc, a video-sharing and cloud services provider, announced Monday its board has approved a strategy to allocate up to $20 million of its cash reserves into Bitcoin. 

Its move aligns with a growing trend of corporate Bitcoin adoption championed by firms like MicroStrategy and Metaplanet Holdings.

The Nasdaq-listed company said its diversification strategy underscores its belief in Bitcoin as a hedge against inflation and a tool for long-term value preservation. 

“We believe that the world is still in the early stages of the adoption of Bitcoin,” Rumble Chairman and CEO Chris Pavlovski said in the statement.

The company also aims to strengthen its positioning as a platform of choice for the crypto community, according to a statement.

Founded in 2013 by Pavlovski, Rumble offers a platform for users to upload, share, and monetize video content. It has gained popularity among American conservative and right-wing users and is considered part of the “alt-tech” movement.

Go to Source to See Full Article
Author: Sebastian Sinclair