Rumble, the Tether-backed video platform, announced its first Bitcoin purchase, aiming to diversify its treasury with an investment of 20 million USD. CEO Chris Pavlovski indicated that continuing acquisitions are planned.
Tether has made a strategic investment of 775 million USD in Rumble, allocating part of this fund to support growth. Rumble reports approximately 70 million monthly active users and aims to expand further.
Following the announcement, RUM stock surged over 5%, nearly 80% up since Tether’s investment. The stock was trading at 12.90 USD at the time of reporting.