Rumble Inc., known as RUM and functioning as a video-sharing platform, disclosed that they made their initial Bitcoin (BTC) investment right before Donald Trump’s inauguration on January 20th. They added that this wouldn’t be their only Bitcoin acquisition.
Approximately two months following Rumble’s disclosure of a $20 million investment from its surplus funds into Bitcoin, the company made an announcement. They stated that their Bitcoin acquisition would largely hinge on the overall state of the cryptocurrency market, taking into account factors like BTC’s current price and any cash requirements for their platform.
On January 20th, Bitcoin reached a new peak of over $109,000, mere days before Donald Trump was inaugurated as the 47th President of the United States. Some cryptocurrency experts predict that its value could exceed $180,000 or more by the end of 2025.
Rumble stock mirrors MicroStrategy
It seems that Rumble’s involvement with Bitcoin is driven by both practical and tactical reasons similar to those outlined in MicroStrategy’s guide. Essentially, they are utilizing Bitcoin as a safeguard against inflation and potential depreciation of the U.S. dollar.
Since 2020, MicroStrategy has acquired approximately 450,000 Bitcoins, which accounts for more than 2% of the total Bitcoin supply in circulation. In essence, this Nasdaq-listed company has significantly linked its corporate image and stock market performance to the fluctuations in the price of Bitcoin.
As a researcher, I’ve observed an intriguing connection between my study subjects, MicroStrategy and Rumble, and the price fluctuations of Bitcoin. Notably, both companies have significantly surpassed Bitcoin’s price growth since they declared their respective Bitcoin acquisition strategies.
For instance, Mastercard (MSTR) increased approximately 2,650% since purchasing its initial Bitcoin in August 2020, surpassing the growth of Bitcoin to U.S. Dollar (BTC/USD), which experienced an over 850% increase during the same timeframe.
Since revealing its intentions to acquire Bitcoin in November, RUM’s value has surged by more than 80%. In contrast, the price of Bitcoin itself has risen by just 15.50%.
The evidence suggests that many investors are ready to pay more for shares of MSTR due to their belief that the firm will expand its Bitcoin holdings in the future, especially if Bitcoin experiences another period of growth.
To date, the same basic factor continues to support the value of Rumble’s shares. On New Year’s Eve, the CEO, Chris Pavlovski, declared their intention to compensate content creators with Bitcoin, potentially increasing the demand for this digital currency.
Publicly traded companies eye “Bitcoin reserve”
Numerous corporations that trade on the open market have chosen to incorporate Bitcoin into their financial holdings following Trump’s pledge to institute a U.S. Bitcoin Reserves system.
Not long after Rumble made its announcement, Critical Metas Corp., a company listed on Nasdaq under the ticker symbol $CRML, revealed a plan to invest $500 million in Bitcoin.
Distinguished instances also encompass KULR Technology – a company traded on the New York Stock Exchange – Matador Technologies, a tech corporation based in Canada, and Quantum BioPharma, a biopharmaceutical entity, each disclosing their acquisitions of Bitcoin.
As a crypto enthusiast, I’ve been following the news closely and can’t help but notice the buzz surrounding the recent significant Bitcoin acquisition by Metaplanet, a renowned Japanese investment firm. They’ve just added close to 620 Bitcoins to their portfolio over the past few days!
In addition, MicroStrategy plans to acquire approximately $42 billion more of Bitcoin over the next few years.
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2025-01-22 19:44