Canada-based video-sharing platform Rumble made its first official Bitcoin (BTC USD) purchase on January 17.
The company’s CEO, Chris Pavlovski, disclosed the news on Monday but did not reveal the amount of BTC acquired by Rumble.
The update suggests that the purchase was as high as $20 million. According to the executive, the company intends to purchase more Bitcoin.
Rumble’s $20 Million BTC Purchase
Notably, the $3.6 billion streaming giant adopted Bitcoin as a strategic corporate reserve in November 2024.
It made this move to combat inflation and address economic uncertainty. This move came after its Board of Directors approved the corporate treasury diversification strategy.
It was proposed that only a portion of the company’s excess cash reserves will be allocated to Bitcoin (BTC USD), up to $20 million.
At the time, Pavlovski acknowledged the price surge recorded by the flagship cryptocurrency immediately after Donald Trump won the United States presidential el
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