Publicly traded company Rumble plans to use its cash reserves to buy $20 million in Bitcoin

Odaily News Rumble, a Nasdaq-listed company, video sharing and cloud services platform, announced plans to invest up to $20 million of its excess cash reserves in Bitcoin as part of a new corporate financial diversification strategy. The Board of Directors approved the allocation, which is intended to position Bitcoin as a strategic asset and inflation hedge in its finances. The company plans to integrate cryptocurrencies into its ecosystem, supporting Rumble's mission of building independent infrastructure and promoting an open internet. Bitcoin purchases will be made at the discretion of management, taking into account market conditions, Bitcoin's trading price and the company's cash flow needs. (CryptoBriefing)