Rumble Video Sharing Platform has purchased Bitcoins worth over $17 Million as part its previously-announced investment strategy.
Rumble published a 12-March-2012 notice. said It had added 188 Bitcoins (BTCThe amount invested is about $17.1 Million. The investment was, suggested by CEO Chris Pavlovski Following Donald Trump’s election as US president, the cryptocurrency was hailed in November 2017 as an investment against inflation. It also formed part of a larger effort to increase ties with crypto.
According to the platform, it might make further Bitcoin purchases, depending on factors in the market. Pavlovski posted several times on his social media accounts that Pavlovski strongly supported Trump and the efforts of the US President to create a crypto reserve at the federal government level.
Rumble’s cloud currently hosts Trump’s social media platform, Truth Social — the president’s primary method for public communications — and entered The government of El Salvador signed an agreement in January for the provision of services. Cointelegraph contacted Rumble in January for comments, but received no response.
Related: Tether pours $775M into video-sharing platform Rumble
Rumble is one of many companies to have Bitcoin as part of their balance sheet. invested in crypto Following the election in November, AI company Genius Group as well as software firm Semler Scientific. Rumble shares have fallen by about 34% in value since January 1.
US Government to Soon Hodl Bitcoin
Through executive orders and policy, the Trump Administration has been strengthening ties with the US Government and Crypto Industry since January 20.
US Securities and Exchange Commission (SEC), one of the largest financial regulators of the US, has announced that it will drop investigations and enforce actions against many cryptocurrency firms due to allegations of non-registered security offerings. Trump hosted several crypto CEOs and executives at the White House as part of an event to discuss plans for a national Bitcoin reserve.
Trump’s proposed Bitcoin reserve — which could be codified into law if Congress moves forward with legislation — could see all BTC seized by US authorities HODLed rather than sold at auction. The exact nature of this move is unclear. may affect the price Cryptocurrency is the new currency.
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Source: cointelegraph.com
