Originally published on: November 20, 2024
Rumble, a popular YouTube alternative often associated with the political far-right, is considering adding Bitcoin to its financial portfolio, causing a significant boost in its stock value.
The founder and CEO of Rumble, Chris Pavlovski, sparked excitement among investors after posing the question on X about potentially investing in Bitcoin. Over 29,000 respondents showed their support for the idea, with industry leaders like Jack Mallers of Bitcoin payment provider Strike and Michael Saylor of MicroStrategy offering to assist in the process.
Following this news, Rumble shares saw a 2.5% increase, closing at $5.68 and reaching a peak of $6.20 in after-hours trading before settling at $5.78. This uptrend comes after Rumble recently went public on the Nasdaq in September and boasts approximately 67 million active monthly users on its platform.
With a revenue of $25 million in the third quarter, Rumble has been actively expanding its services and exploring new investment opportunities. If the company proceeds with adding Bitcoin to its balance sheet, it will join a growing list of businesses venturing into the world of cryptocurrency investments.
Companies like Genius Group, Metaplanet, and Semler Scientific have already taken steps to incorporate Bitcoin into their financial strategies, signaling a broader trend of digital asset adoption among traditional businesses.
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