- Rumble is embracing Bitcoin.
- Bitcoin advocate Michael Saylor has cheered the decision.
- Saylor’s MicroStrategy is still stacking up BTC.
MicroStrategy Chair Michael Saylor has solidified his reputation as one of Bitcoin’s most vocal advocates in recent years, tirelessly championing its potential. Riding the wave of the asset’s recent rally, Saylor has intensified his efforts, promoting Bitcoin as a worthy investment option to other major institutional players.
Among his latest engagements are digital platform Rumble and tech giant Microsoft, and the MicroStrategy chief’s advocacy is yielding results.
Rumble Bets on Bitcoin
Popular video-sharing and cloud services platform Rumble is the latest to embrace crypto giant Bitcoin. In a November 25 statement, the firm unveiled a first-of-its-kind treasury strategy focused on accumulating BTC.
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Rumble’s announcement followed an exchange between CEO Chris Pavlovski and Saylor on social media platform X, where Saylor encouraged the firm to invest in Bitcoin and even offered to share his expertise after the firm expressed interest.
Michael Saylor also shared congratulatory notes with Rumble and its CEO, praising the firm’s decision to invest in the crypto giant after the announcement. Rumble’s BTC treasury strategy will include purchases of up to $20 million BTC as part of the firm’s belief in the cryptocurrency as a strategic asset and an inflation hedge.
As the video platform joins the Bitcoin revolution, Saylor’s company, MicroStrategy, continues expanding its Bitcoin holdings.
MicroStrategy Stacks More BTC
MicroStrategy’s multi-billion dollar Bitcoin stash has grown stronger over the years, bolstered by fresh purchases. The firm began its buying spree in August 2020, when the asset was trading around $10,000.
Most recently, between November 18 and November 24, 2024, the company made its biggest acquisitions to date, purchasing 55,500 Bitcoins for approximately $5.4 billion. This latest purchase followed two initial purchases in the same month, each valued at around $2 billion.
MicroStrategy’s Bitcoin stash now holds 386,700 BTC, which is valued at approximately $36.22 billion at current prices. With this substantial holding, the firm is the largest corporate Bitcoin holder.
On the Flipside
- BTC has surged over 800% since MicroStrategy commenced its buying spree.
- It remains to be seen whether Saylor’s push for Microsoft to adopt Bitcoin will bear fruit, like Rumble’s decision.
- At press time, BTC is trading slightly over $93,000.
Why This Matters
Despite Michael Saylor’s influence, Rumble’s move to invest in Bitcoin is largely a testament to the asset’s remarkable performance and growing reputation as a reliable store of value.
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