YouTube's Main Competitor Creates Strategic Reserve with Bitcoin
Rumble, currently YouTube's main competitor, announced this Tuesday (26) the decision to create a strategic reserve of Bitcoin (BTC).
The platform, known for its liberal approach to censorship, will allocate up to US$$ 20 million of its surplus cash to the purchase of cryptocurrency. The measure aims to consolidate the company's position in the market and accelerate its expansion, taking advantage of the benefits of Bitcoin as a store of value.
The decision comes shortly after BTC recorded a strong bullish rally that took the cryptocurrency from a level of US$$ 66 thousand, to a peak of US$$ 99.500, although a recent correction returned the asset to US$$ 92 thousand.
Chris Pavlovski, CEO of Rumble, highlighted the importance of this decision. According to him, the adoption of Bitcoin reflects the company's strategic vision at a time of growing institutional acceptance of the cryptocurrency.
“We believe that the world is still in the early stages of adopting Bitcoin, an asset that is consolidating itself as a hedge against inflation and an excellent addition to our treasury,” said Pavlovski.
