You may have seen the overly excited headlines hitting on this from around the place … they came as Bitcoin was getting smashed lower so were best ignored.
However, its not bad news for the crypto and now that some of the excitement has worn off, some detail:
Rumble has announced a corporate treasury diversification strategy
will include allocating up to US$20 million of excess cash reserves to Bitcoinpart of the company’s expansion into cryptocurrencyCEO Pavlovski cited Bitcoin’s potential as an inflation hedge and its increasing institutional adoption as key factors behind the decisiontiming and value of Bitcoin purchases will be determined based on market conditions, the price of BTC, and Rumble’s cash needsstrategy can be modified or discontinued at any time
This article was written by Eamonn Sheridan at www.forexlive.com.
