Online video platform Rumble plans to purchase $20 million worth of Bitcoin as part of its reserve strategy. This decision comes after MicroStrategy CEO Michael Saylor recommended that Rumble’s CEO consider adding Bitcoin to the company’s reserves. MicroStrategy itself holds 386,700 Bitcoin, currently valued at over $36 billion.
Rumble’s Bitcoin reserve strategy involves allocating a portion of its excess cash reserves to Bitcoin, allowing the company to purchase up to $20 million worth of the cryptocurrency. The timing and amount of Bitcoin purchases will be determined by Rumble’s management, considering factors such as market conditions and the company’s anticipated cash requirements.
Rumble’s CEO, Chris Pavlovski, believes that Bitcoin is a valuable inflation hedge and a great addition to the company’s treasury.
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<p>The post Rumble Announces $20M Bitcoin Reserve Strategy first appeared on CoinBuzzFeed.</p>
