Rumble, a Tether-backed video sharing platform, has made its first Bitcoin acquisition two months after adopting the top cryptocurrency as a strategic reserve.
On January 20, Rumble CEO Chris Pavlovski said announced that the company had purchased Bitcoin on Friday, January 17.
According to him:
“On Friday, Rumble made its first-ever purchase of Bitcoin. It won’t be the last.”
Although the amount acquired is not disclosed, Pavlovsky hinted that this is just the beginning of a larger plan to strengthen Rumble’s Bitcoin position.
The purchase is in line with Rumble’s broader crypto strategy. In November 2024, the company announced plans to invest $20 million in Bitcoin, citing confidence in the asset’s long-term potential.
At the time, Pavlovsky noted that Bitcoin adoption was still in its infancy, with momentum building thanks to supportive policies and growing institutional interest.
He also highlighted Bitcoin’s resilience to inflation, citing its immunity to dilution caused by excessive money printing. He called it a valuable asset to the company’s coffers.
Rumble is a video sharing platform with 67 million monthly active users and is known for its relaxed approach to content moderation. Last December, stablecoin publisher Tether invested more than $775 million in the platform.
Broader adoption
Rumble’s acquisition of Bitcoin reflects a growing trend among top public and private sector companies embracing the flagship digital asset for their government bonds.
Data from Bitcoin Treasuries shows that more than 70 publicly traded companies collectively own approximately 600,000 BTC. MicroStrategy leads this cohort with 450,000 BTC in its coffers.
On the other hand, private companies like SpaceX, Tether, and Block.one have amassed 407,212 BTC.
Bitwise’s Chief Investment Officer Matthew Hougan believes this trend is far from a one-off. Instead, he describes it as a “megatrend” that could reshape the crypto market.
Hougan attributes part of this shift to the introduction of ASU 2023-08 by the Financial Accounting Standards Board (FASB). This new rule allows publicly traded companies to register Bitcoin holdings at market value, allowing them to reflect profits when the price of Bitcoin rises.
