Video streaming platform and YouTube competitor Rumble has officially entered the cryptocurrency space. The company’s CEO confirmed that Rumble has made its first purchase of Bitcoin (BTC) and hinted that this will not be its last.
Rumble CEO Confirms Bitcoin Purchase
In a mail Shared on X Earlier today, Rumble CEO Chris Pavlovsky announced that the video streaming platform made its first purchase of Bitcoin on January 17. Pavlovsky also stated that this purchase “will not be the last,” suggesting that the company may increase its Bitcoin holdings in the next year. The coming months.
However, Pavlovsky did not reveal the exact amount of Bitcoin purchased. However, Rumble’s move underscores the growing trend of companies adding Bitcoin to their balance sheets.
It is worth noting that the CEO of Rumble first Hint In a cryptocurrency purchase of a company in November 2024, when he ran a poll on X asking users if Rumble should add BTC to its balance sheet.
More than 39,000 people participated in the survey, and the overwhelming majority voted in favor of this step. Popular Bitcoin advocate and CEO of MicroStrategy, Michael Saylor, even responded, offering to discuss “why and how” Bitcoin could be a strategic asset for Rumble.
Then, in December 2024, Rumble was released unveil A Bitcoin treasury strategy that has set aside $20 million to buy the leading digital asset. At the time, Pavlovsky described Bitcoin as a “valuable tool for strategic planning.”
Interestingly, Rumble (RUM) stock closed 5.31% higher at the end of trading on Friday. Although the stock market is closed today in observance of Martin Luther King Jr. Day, RUM could see further gains when trading resumes tomorrow.
Will BTC adoption grow significantly in 2025?
Bitcoin saw unprecedented adoption in 2024, with milestones such as the US Securities and Exchange Commission’s (SEC) approval of Bitcoin spot trading funds (ETFs) and a growing number of companies incorporating Bitcoin into their treasury strategies. However, 2025 promises more adoption.
The election of pro-crypto Republican candidate Donald Trump as President of the United States has sparked speculation about the creation of a strategic Bitcoin reserve in the United States. if outletSuch a reserve could become the most important catalyst yet for strengthening Bitcoin’s position as a trustworthy and reliable store of value.
A recent report from Fidelity Digital Assets outline The increasing reliance of nation-states and governments on Bitcoin is the main factor that may drive the growth of the cryptocurrency in 2025. Likewise, Standard Chartered Bank He predicts That BTC could reach $200,000 by the end of 2025, supported by Favorable Crypto Regulations Under a Trump Presidency.
However, changes in global macroeconomic policies can pose a challenge risk To BTC’s bullish momentum. At press time, Bitcoin is trading at $107,608, up 1.6% over the past 24 hours.
Featured image from Unsplash.com, graphics from Yahoo! Finance and TradingView.com
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