Rumble Invests $17.1 Million in Bitcoin, Adds 188 BTC to Treasury

Video-sharing platform Rumble, listed on Nasdaq, announced an investment of $17.1 million in Bitcoin, acquiring 188 BTC for its corporate treasury. The purchase, revealed on [Current Date], was executed at an average price of $91,000 per coin. This move aligns with Rumble's previously announced strategy to allocate up to $20 million of its cash reserves to Bitcoin. CEO Chris Pavlovski stated the investment serves as a hedge against inflation. Future acquisitions will depend on market conditions, Bitcoin's price, and Rumble's cash flow. Last year, Tether acquired a $775 million stake in Rumble. Rumble's shares closed down 2.38% in the last trading session but rose nearly 4% in pre-market trading to $8.1.