Rumble, a popular video-sharing platform backed by Tether, has recently made its first foray into the world of Bitcoin acquisitions. Just two months after incorporating Bitcoin into its strategic reserve assets, Rumble CEO Chris Pavlovski announced the company’s purchase of Bitcoin on January 17th.
Although the exact amount of Bitcoin acquired remains undisclosed, Pavlovski made it clear that this is just the beginning of Rumble’s efforts to bolster its position in the world of Bitcoin. This move falls in line with Rumble’s broader crypto strategy, which was unveiled in November 2024 when the company announced plans to invest $20 million in Bitcoin. Pavlovski expressed confidence in Bitcoin’s long-term potential, citing its resilience against inflation and its status as a valuable asset for the company’s treasury.
Rumble, known for its relaxed content moderation approach, boasts 67 million active users monthly and received a significant investment of over $775 million from stablecoin issuer Tether in December.
This acquisition by Rumble reflects a larger trend among both public and private sector companies embracing Bitcoin as a reserve asset. Data from Bitcoin Treasuries indicates that over 70 publicly traded companies collectively hold approximately 600,000 BTC, with MicroStrategy leading the pack with 450,000 BTC. Private firms like SpaceX, Tether, and Block.one have also amassed a substantial amount of Bitcoin.
According to Bitwise’s Chief Investment Officer Matthew Hougan, this trend of corporate Bitcoin acquisitions is not a one-time occurrence but rather a “megatrend” that has the potential to reshape the crypto market. Hougan attributes part of this shift to the Financial Accounting Standards Board’s introduction of ASU 2023-08, which allows publicly traded companies to record Bitcoin holdings at market value and reflect gains when Bitcoin’s price increases.
Overall, Rumble’s entry into the world of Bitcoin acquisitions is a significant step in the company’s strategic evolution and underscores the growing importance of Bitcoin as a reserve asset for businesses across various industries.