Rumble Inc buying $20 mln Bitcoin, shares rise due to future adoption belief.

From Investing.com: 2024-11-25 18:51:41

Rumble Inc announced it will buy Bitcoin with excess cash reserves, leading to a 4% rise in shares after hours and a 17% jump during the day. Popular streamer Dr Disrespect will stream exclusively on Rumble, driving gains. The company plans to allocate up to $20 million for Bitcoin purchases, believing in its future adoption.

Bitcoin surged to record highs in the past three weeks after Trump’s 2024 election win. Trump’s promise of favorable crypto regulations and a national Bitcoin stockpile boosted the cryptocurrency market. Bitcoin reached nearly $100,000 this week but fell short of breaking the milestone.



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