Rumble Plans to Buy Bitcoin From Cash Reserves | Global News Avenue

rumble (rum), a conservative-leaning streaming media platform whose Supporters include Vice President-elect JD Vance said he plans to allocate part of his cash reserves to Bitcoin (Bitcoin USD).

Shares of Rumble were up about 4% on Tuesday morning.

Incoming White House reveals Crypto-friendly Donald Trump says he will make the United States the “cryptocurrency capital of the planet” and create a Bitcoin “strategic reserve” using currency currently held by the government. Bitcoin price has been falling in recent days but has broken through $90,000 and is trading close to $100,000 Milestone since Trump was elected last month.

Rumble said its board of directors has approved a “corporate financial diversification strategy to allocate a portion of the company’s excess cash reserves to Bitcoin.”

CEO Pavlowski says Bitcoin can be a hedge against inflation

“We believe the world is still in the early stages of Bitcoin adoption, which has accelerated recently with the election of a crypto-friendly U.S. presidential administration and increased institutional adoption,” said Rumble Chairman and CEO. ” Chief Executive Officer (CEO) Chris Pavlovsky said.

He added that since Bitcoin is not “government-issued,” it won’t lose its value to “endless money printing” and can help hedge against inflation.

Pavlovsky said the timing of buying Bitcoin will depend on overall market conditions and the discretion of Rumble management.

Accumulating Bitcoin Already Boosted stock price Companies such as software maker MicroStrategy (Magnetic transmission technology), now the largest legal holder token. Its shares have soared more than 500% this year. Shares of Rumble are up nearly 70% so far this year.