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Streaming Giant Rumble Discloses $17.1 Million Bitcoin (BTC) Purchase
Rumble, a popular video streaming platform, has made a significant investment in the cryptocurrency market by purchasing $17.1 million worth of Bitcoin (BTC). This massive investment is equal to 0.60% of its net market capitalization.
It’s important to note that this purchase was part of a larger transaction in which Tether, the issuer of the world’s largest stablecoin USDT, invested a whopping $775 million into Rumble. In the first batch of this investment, Tether transferred $250 million to Rumble, and as a result, the company injected around 7% of that initial transfer into Bitcoin.
This recent purchase by Rumble brings the total amount of publicly listed companies’ Bitcoin holdings to over 657,000 BTC, valued at approximately $53 billion. This represents roughly 3.13% of the entire Bitcoin supply.
It’s essential for investors and enthusiasts alike to keep an eye on these large-scale investments from reputable companies like Rumble, as they can have a significant impact on the market.
Source: https://u.today/streaming-giant-rumble-discloses-171-million-bitcoin-btc-purchase
