Rumble confirms ”new financial strategy plan” to buy Bitcoin...stock price rises

Rumble, a video-sharing platform known as a YouTube alternative, has confirmed plans to add Bitcoin as an asset.
On the 25th (local time), Rumble announced in a statement that its board of directors has decided to invest a portion of the company's surplus cash, up to $20 million (approximately 3 billion yen), in Bitcoin.
The purchase will be made at the discretion of management, taking into account a variety of factors, including market conditions, the price of Bitcoin and the platform's cash needs.
On the 19th of last month, Rumble CEO Chris Pavlovski announced via X (formerly Twitter) that the company's balance sheet contained bitcoin.
The stock price rose after the company revealed that it was considering ways to add the coin. Pavlovsky posted a survey on X on the same day, asking whether Rumble's Bitcoin assets could be added.
When asked whether they would support Bitcoin, 93.9% of the 43,790 respondents voted in favor. Pavlovsky said, "The world is still in the early stages of Bitcoin adoption, and there is a pro-cryptocurrency trend.
"This pace has accelerated recently with the election of the US Presidential Administration and increased institutional adoption," he said. "Unlike government-issued currencies, Bitcoin is a currency that can be issued without limit.
"Because it is not subject to value dilution, it is extremely useful as an inflation hedge and is an excellent addition to the financial portfolio."
According to Google Finance, Rumble (RUM) shares fell in the same trading session as the announcement.
surged 12.63% to $7.31 and rose 5.47% to $7.71 in aftermarket trading.