Rumble has strategically increased its Bitcoin holdings acquiring approximately 188 Bitcoin at an average price of $91,000 each. This significant investment aligns with the company’s ambitious plan to allocate up to $20 million to Bitcoin reinforcing their belief in its long-term value. As a prominent video-sharing and cloud services platform Rumble’s latest move underlines their dedication to integrating cryptocurrency within their financial strategy.

CEO Chris Pavlovski announced the company’s enthusiasm about integrating Bitcoin into their treasury strategy. He highlighted the digital currency’s advantages such as being a hedge against inflation and immunity to the dilution that affects fiat currencies. Pavlovski expressed pride in making Rumble a beacon for the crypto community signaling a deeper engagement with the industry.

Future acquisitions of Bitcoin by Rumble will depend on a variety of factors including market conditions and company liquidity. While the current strategy is robust Rumble retains the flexibility to adjust or pause their Bitcoin investments responding to changing market dynamics and internal financial requirements.

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People tend to celebrate periods of low feerates. It’s time to clean house, consolidate any UTXOs you need to, open or close any Lightning channels you’ve been waiting on, and inscribe some stupid 8-bit jpeg into the blockchain. They’re perceived as a positive time. 

They are not. We have seen explosive price appreciation the last few months, finally hitting the 100k USD benchmark that everyone took for granted as preordained during the last market cycle. That’s not normal. 

The picture on the left is the average feerate each day since 2017, the picture on the right is the average price each day since 2017. When the price was pumping, when it was highly volatile,…

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Rumble (NASDAQ: RUM), the video-sharing platform and cloud services provider, has announced the purchase of approximately 188 Bitcoin, valued at around $17.1 million, as part of its previously disclosed Bitcoin treasury strategy. Acquired at an average price of approximately $91,000 per coin, this purchase is a part of the company’s plan to allocate up to $20 million into Bitcoin.

“We are excited to announce these purchases and allocation of Bitcoin as part of our treasury strategy as well as a larger strategic move as we further expand our ties to the crypto industry,” said Rumble Chairman and CEO Chris Pavlovski. “These holdings have the potential to serve as a valuable…

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Binance the world’s largest cryptocurrency exchange joins forces with MGX a major AI and technology investor from Abu Dhabi in a groundbreaking $2 billion investment. This landmark deal not only marks Binance’s first institutional investment but also stands as the largest single investment in a crypto company to date paid entirely in stablecoin. It signifies a major leap in digital asset adoption enhancing blockchain’s integral role in global finance.

Through this strategic partnership MGX secures a minority stake in Binance marking its initial foray into the cryptocurrency and blockchain sectors. The investment aims to bolster innovation at the crossroads of AI blockchain technology and finance furthering Binance’s extensive influence across these fields especially in the UAE. This region is celebrated for its progressive stance on cryptocurrency regulation and clarity in digital asset frameworks.

Ahmed Yahia of MGX and Binance CEO Richard Teng both heralded the investment as a pivotal moment for digital finance. Teng emphasized their commitment to shaping an inclusive sustainable digital finance ecosystem while adhering to stringent compliance and security standards. This move is set to accelerate institutional adoption and support the expansive growth of decentralized finance and the tokenized economy worldwide.

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Bolivia’s state energy company YPFB has taken a pioneering step by deciding to use cryptocurrency for energy imports. This strategic move reported by Reuters aims to address the nation’s severe shortage of U.S. dollars and foreign currency reserves. By adopting cryptocurrency payments YPFB seeks to mitigate the ongoing fuel crisis caused by reduced natural gas exports.

Scattered protests have erupted across Bolivia due to the fuel shortages. The adoption of cryptocurrency by YPFB marks a significant shift in how the country plans to stabilize its economic conditions. According to a YPFB spokesperson the transactions in cryptocurrency will commence immediately signaling a new era in the nation’s economic strategy.

This initiative follows a trend in South America where state-owned energy firms are turning to cryptocurrencies. In 2023 Argentina’s YPF entered the crypto mining sector while Venezuela’s PDVSA started using cryptocurrencies last April to circumvent U.S.-imposed oil sanctions. Bolivia’s move could set a precedent for other nations facing similar economic challenges.

Reuters