#Rumble's First Bitcoin Purchase#

Rumble, a video streaming platform backed by Tether, made its first-ever bitcoin purchase last Friday, and said it wouldn't be the last. The company’s CEO Chris Pavlovski announced the news on social media platform X, saying Rumble will continue to add to its bitcoin holdings. The move comes after Rumble announced a financial strategy to purchase up to $20 million worth of bitcoin. The move is seen as an endorsement of cryptocurrency by Rumble, and could signal more publicly traded companies following suit in adding bitcoin to their balance sheets. Some analysts believe that as former U.S. President Trump takes over and controls the U.S. Securities and Exchange Commission, there will be more publicly traded companies buying bitcoin in the future. Rumble’s bitcoin purchase also has sparked conversation about the application of cryptocurrency in traditional finance, and could push more companies to see bitcoin as a new asset allocation strategy.