Rumble Stock Jumps After CEO Explores Bitcoin Treasury Strategy
Rumble (RUM), the alternative video-sharing platform, saw its stock climb on Tuesday after CEO Chris Pavlovski hinted at the possibility of adopting bitcoin (BTC) as part of the company’s treasury strategy.
“Should Rumble add Bitcoin to its balance sheet?” Pavlovski queried on X, sparking intrigue across the crypto and corporate communities.
MicroStrategy Chairman Michael Saylor, known for championing corporate bitcoin adoption, quickly chimed in, responding with a resounding “Yes” and offering to guide the process. Pavlovski replied, “DM’ing you now,” fueling further speculation.
Following the exchange, Rumble shares reversed an earlier decline to rally as much as 7%, settling up 3.3% by market close. The news coincided with bitcoin’s record-setting climb past $94,000 amid a surge in institutional and corporate interest.
Rumble reported $25.1 million in revenue for the third quarter, a 39% year-over-year increase, and held $130.8 million in cash. The company’s stock has risen 26% this year, with a market cap of approximately $1.6 billion.
For more: Corporate Bitcoin Adoption Gathers Steam as Prices Surge
