Rumble Bets On Bitcoin With New Treasury Strategy, CEO Calls It An 'Excellent Addition'

Benzinga09:39

Popular video-sharing platform Rumble Inc. RUM became the latest Wall Street player to embrace the Bitcoin BTC/USD treasury strategy amid the apex cryptocurrency’s record-breaking run. What Happened: ...

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RUM became the latest Wall Street player to embrace the Bitcoin BTC/USD treasury strategy amid the apex cryptocurrency’s record-breaking run.\nWhat Happened: ...</p>\n\n<a href=\"https://www.benzinga.com/markets/cryptocurrency/24/11/42179537/rumble-bets-on-bitcoin-with-new-treasury-strategy-ceo-calls-it-an-excellent-addition\">Source Link</a>\n\n</div>\n","source":"Benzinga","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rumble Bets On Bitcoin With New Treasury Strategy, CEO Calls It An 'Excellent Addition'</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRumble Bets On Bitcoin With New Treasury Strategy, CEO Calls It An 'Excellent Addition'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-26 09:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/markets/cryptocurrency/24/11/42179537/rumble-bets-on-bitcoin-with-new-treasury-strategy-ceo-calls-it-an-excellent-addition><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Popular video-sharing platform Rumble Inc. RUM became the latest Wall Street player to embrace the Bitcoin BTC/USD treasury strategy amid the apex cryptocurrency’s record-breaking run.\nWhat Happened: ...</p>\n\n<a href=\"https://www.benzinga.com/markets/cryptocurrency/24/11/42179537/rumble-bets-on-bitcoin-with-new-treasury-strategy-ceo-calls-it-an-excellent-addition\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://www.benzinga.com/markets/cryptocurrency/24/11/42179537/rumble-bets-on-bitcoin-with-new-treasury-strategy-ceo-calls-it-an-excellent-addition","article_id":"2486094956","we_media_id":null,"thumbnails":["https://www.benzinga.com/files/images/story/2024/11/25/Portland--Or--Usa---Jan-14--2022-Rumble-_0.jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486094956","pubTimestamp":1732585161,"sourceInfo":{"source_id":"Benzinga","name":"Benzinga Cypto"},"weMediaInfo":null,"summary":"Popular video-sharing platform Rumble Inc. (NASDAQ:RUM) became the latest Wall Street player to embrace the Bitcoin (CRYPTO: BTC) treasury strategy amid the apex cryptocurrency’s record-breaking run.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4588":"碎股","BK4601":"加密货币现货ETF","BK4594":"比特币ETF概念"},"translate_title":"Rumble通过新的财政部策略押注比特币，首席执行官称其为“出色的补充”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"Popular video-sharing platform Rumble Inc. RUM became the latest Wall Street player to embrace the Bitcoin BTC/USD treasury strategy amid the apex cryptocurrency’s record-breaking run.\nWhat Happened: According to an announcement made Monday, Rumble’s board approved a new strategy to allocate a portion of the company’s surplus cash reserves to Bitcoin. This move was part of Rumble’s strategic planning, aimed at supporting the company’s foray into the cryptocurrency market.\nRumble’s allocation strategy will include investments of up to $20 million, at the company’s discretion. At the prevailing market price, this would amount to a purchase of around 212 Bitcoins.\nThat said, the actual timing and value of the purchase would be decided by the management, contingent on factors such as general market conditions and the price of Bitcoin.\n\nBREAKING: Rumble Announces Bitcoin Treasury Strategy\"Rumble's Bitcoin allocation strategy will include purchases, at the discretion of the company, ofup to $20 million.\" pic.twitter.com/J40IuW1Nnp— Rumble 🏴‍☠️ (@rumblevideo) November 25, 2024\n\n“We believe that the world is still in the early stages of the adoption of Bitcoin, which has recently accelerated with the election of a crypto-friendly U.S. presidential administration and increased institutional adoption,” Rumble CEO Chris Pavloski said. \nHe called Bitcoin a “valuable inflation hedge” and an “excellent addition” to the company’s treasury.\nSee Also: EXCLUSIVE: Tim Draper Predicts Bitcoin To Reach $120K By End Of 2024, $250K In 2025\nWhy It Matters: This move by Rumble comes in the wake of an increasing interest in Bitcoin investment among major companies. \nInterestingly, just last week, MicroStrategy Inc. MSTR CEO Michael Saylor offered to educate Pavloski on the implications of adding Bitcoin to a company’s reserves.\nMicroStrategy pioneered the now-popular strategy, adding as many as 386,700 Bitcoins, worth over $36 billion, to its books., according to Bitcointreasuries.net.\nSeveral major Wall Street firms, including MARA Holdings Inc. MARA, the world’s largest Bitcoin miner, have replicated MicroStrategy’s playbook. MARA is the second-largest corporate holder of Bitcoin, with 27,562 BTCs in its reserves, while Riot Platforms Inc. RIOT and Tesla Inc. TSLA follow with 10,928 and 9.720, respectively.\nPrice Action: At the time of writing, Bitcoin was trading at $93,975.66, down 3.70% in the last 24 hours, according to data from Benzinga Pro. Since Donald Trump’s presidential victory earlier this month, the asset has surged by 38%.\nShares of Rumble surged 12.6% during Monday’s regular trading session.\nRead Next: \n\nWisdomTree Files For XRP ETF Trust: Report\n Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486094956"}