Rumble, the video-sharing platform, has purchased approximately 188 Bitcoin for its treasury, investing $17.1 million at an average price of $91,000 per Bitcoin, which currently values the holdings at around $15.5 million. This purchase is part of Rumble's strategy to invest up to $20 million of its excess cash reserves in Bitcoin, positioning the cryptocurrency as a hedge against inflation and a safeguard against currency dilution due to overprinting. CEO Chris Pavlovsk emphasized the importance of Bitcoin in their strategic planning and growth within the cryptocurrency space. Rumble follows a growing trend among publicly traded companies, such as Tesla and MicroStrategy, which have also made significant Bitcoin investments. The platform’s stock was trading at $7.94, showing a slight increase over the last 24 hours. With Bitcoin’s fluctuating price, it appears some companies are leveraging opportunities to buy during dips, highlighting the evolving market dynamics surrounding the cryptocurrency.

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