TLDR
- YouTube rival Rumble made its first Bitcoin purchase in January 2025 as part of a $20 million investment strategy.
- The purchase amount was not disclosed, but it is part of a November 2024 announcement to allocate up to $20 million in cash reserves to Bitcoin.
- Tether has recently invested $775 million in Rumble, starting with a $250 million cash investment.
- Rumble joins other public companies like MicroStrategy in adopting a Bitcoin treasury strategy.
- CEO Chris Pavlovski stated that more Bitcoin purchases will follow.
Video-sharing platform Rumble has purchased Bitcoin for the first time, marking the start of its previously announced $20 million cryptocurrency investment strategy. The purchase, completed on Friday, January 17, 2025, represents the company’s first step toward managing its cryptocurrency treasury.
“On Friday, Rumble $RUM purchased Bitcoin for the first time ever,” Rumble CEO Chris Pavlovski said in a post on X. It won’t be the last.” The company did not disclose the exact amount of Bitcoin purchased.
Rumble on Friday $RUM I purchased Bitcoin for the first time. $BTC.
It won’t be the last.
— Chris Pavlovski 🏴☠️ (@chrispavlovski) January 20, 2025
The move follows Rumble’s announcement of plans to allocate up to $20 million of its cash reserves to Bitcoin in November 2024. At the time, Pavlovski expressed the view that Bitcoin adoption was still in its infancy.
Rumble, which trades on Nasdaq under the ticker symbol RUM, has positioned itself as an alternative to YouTube with a focus on free speech principles. The Canada-based company has become popular among conservative users in the United States.
The platform recently received significant support from stablecoin issuer Tether, which pledged an investment of $775 million in December 2024. The investment began with an initial cash injection of $250 million. Tether is known to issue USDT, which is currently the fourth largest cryptocurrency by market capitalization.
This financial strategy mirrors that of MicroStrategy, a software company that began purchasing Bitcoin in 2020. MicroStrategy has amassed 450,000 bitcoins, worth about $46.3 billion, at a current price of $103,000 per bitcoin.
The video platform’s decision comes at a time when the Bitcoin price has seen strong performance, but some Bitcoin holdings have experienced market volatility. For example, MicroStrategy’s stock price is down 45% from its November high, falling from $543 to $300.
Rumble’s foray into Bitcoin investing represents part of a broader trend of public companies diversifying their financial strategies to include cryptocurrencies. Other public companies that have adopted a similar approach include MARA Holdings, Riot Platforms, and Hut 8.
The company’s Bitcoin strategy includes using excess cash reserves to purchase the cryptocurrency, indicating a long-term approach to Bitcoin investing rather than short-term trading.
While the initial purchase amount was not disclosed, the $20 million allocation limit provides a framework for understanding the scale of Rumble’s potential Bitcoin investment strategy.
Rumble’s first Bitcoin purchase comes approximately two months after the initial strategy announcement, suggesting a measured approach to implementation.
Rumble’s decision to invest in Bitcoin comes months after receiving an investment commitment from Tether, demonstrating the company’s continued expansion of involvement in the cryptocurrency space.
The platform focuses on video sharing services while also adding Bitcoin to its treasury management strategy, representing a different approach to corporate financial management.