Buy Bitcoin, stock price goes up 80%: Rumble follows ‘MicroStrategy’ strategy
Many public-traded companies are adopting a “MicroStrategy” strategy of buying Bitcoin after Donald Trump’s reelection.
Rumble Inc. (RUM), a video-sharing platform, revealed that it had purchased its first Bitcoin (BTC) just ahead of Donald Trump’s inauguration event on Jan. 20, noting that “it won’t be the last” Bitcoin purchase for the company.
Source: Chris Pavlovski
The announcement appeared nearly two months after Rumble confirmed its plans to allocate $20 million from its excess cash reserves to purchase Bitcoin. The company said that their purchase will depend primarily on the wider crypto market conditions, including BTC’s price and their platform’s cash needs.
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Author: Yashu Gola
