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Rumble, a Toronto-headquartered video hosting, streamling and cloud platform, joins the corporate Bitcoin 
BTCUSD purchasing mania. The statement about $17.1 million Bitcoin BTCUSD added to the treasury comes 10 weeks after Tether’s investment in Rumble.
$17,100,000: Video platform Rumble confirms first BTC purchase
According to its official statement, Canada’s video streaming platform Rumble, disclosed its pioneering Bitcoin BTCUSD purchasing. The company has added 188 Bitcoins BTCUSD to treasury with an average price of $91,000 per coin, Rumble said in X.
BREAKING: Rumble Announces Purchases of $17.1 Million in Bitcoin in Accordance with Previously Announced Bitcoin Treasury Strategy
“The company has added approximately 188 Bitcoin to its treasury at an average price of approximately $91,000 per coin” pic.twitter.com/6n1oRRaFxj
In total, the company is going to allocate $20 million in Bitcoin BTCUSDRumble CEO Chris Pavlovski said in a press release.
The company bets big on Bitcoin BTCUSD “as a valuable tool for strategic planning and reinforces the company’s expansion into cryptocurrency,” the team says.
Fueled by the announcement, Rumble’s RUM stocks are up by 2.7% in 24 hours on Nasdaq’s premarket. However, the X followers opined that the company might be getting exposure to Bitcoin BTCUSD on too high prices.
As of press time, Bitcoin BTCUSD is changing hands at $81,633. Rumble should be 10.33% underwater, with a negative paper PnL of $1.77 million.
Rumble jumps into top 40 corporate BTC holders
With this purchase, Rumble becomes the 40th largest corporate holder of Bitcoin BTCUSDBitcoin Treasuries tracker says. Rumble’s BTC holdings are equal to 0.60% of its net market cap.
As covered by U.Today previously, in December 2024, Rumble secured a whopping $775 million investment from Tether, the issuer of the world’s largest stablecoin, USDT.
In the first batch, Tether transferred to Rumble $250 million in cash. As such, the company injected into Bitcoin BTCUSD about 7% of the first Tether transfer.
In total, publicly listed companies are responsible for over 657,000 Bitcoins BTCUSD worth $53 billion; it is 3.13% of the entire Bitcoin BTCUSD supply.
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