Shares surged after announcement, reflecting potential market interest in the company’s Bitcoin strategy.The announcement came shortly after CEO Chris Pavlovski teased the idea on social media on the 19th of November, creating significant buzz in the cryptocurrency space.
The confirmation from Rumble adds to a growing list of companies that have incorporated Bitcoin into their balance sheets as a hedge against inflation and a store of value. By adding Bitcoin to its balance sheet, Rumble could potentially see the value of its holdings appreciate, providing a financial cushion and enhancing its overall stability.
The announcement has already had a positive impact on Rumble’s stock, with shares spiking 12.63% to $7.31, according to Google Finance, reflecting growing confidence in the company’s strategy.