Mentioned:
One of the world’s most popular video platforms just made a bet on something new: Bitcoin.
What’s happening:
- Rumble (NASDAQ: RUM) has announced they have purchased $17.1M USD of Bitcoin to hold directly as an asset
By the numbers:
- Rumble purchased 188 Bitcoin at an average price of $91,000 USD per Bitcoin
Why it matters:
- This is the first time that Rumble has ever purchased Bitcoin
Going deeper:
- Rumble has publicly stated they plan to purchase up to $20M of Bitcoin initially and may consider acquiring even more Bitcoin in the future
- Tether previously made waves when they announced a $775M USD strategic investment into Rumble as well as announcing plans to begin closely collaborating with Rumble to integrate digital assets into their highly popular video platform
